Crossject SA

Crossject SA is a France-based company that designs and develops medical injection systems. The Company specializes in needle-free, pre-filled, single-use injection systems for intradermal, subcutaneous and intramuscular applications for pharmaceutical companies. Is also has a pipeline and three drugs in the preclinical or clinical phase of research. The Company's products, which are based on well-known injectable drugs (chemicals and biologics), are designed to enhance patients' safety, compliance and comfort. Crossject's first ZENEO SUPERGENERIC product is expected to reach the market in the year 2015. The Company has industrial partnerships with Hirtenberger and Recipharm.
  • TickerA1XEH4
  • ISINFR0011716265
  • ExchangeEuronext Paris
  • SectorHealth Care Equipment & Services
  • CountryFrance

Analysts

Warrants to existing shareholders

Warrants to existing shareholders FINANCING ISSUE FACT Crossject indicated that it would grant shareholders free warrants (BSA). Each share held could translate into one warrant, with nine warrants entitling holders to get a share in Crossject at €1.80. ANALYSIS The move was expected and the main shareholder (Gemmes Venture, 26.74%) has already indicated it will exercise its warrants. Altogether, should all warrants be exercised, this would lead to the issuance of 18,447k warrants and 2,049k shares, or €3,689m. The warrants will be granted on 18 July and exercisable between 18 July and...

Olga Smolentseva ...
  • Thibaut Voglimacci-Stephanopoli

INVEST SECURITIES - CROSSJECT: Un premier accord sur ZENEO® Midazolam - ACHAT - OC 2,9€

A commercial success

A commercial success LATEST FACT Crossject announced the signature of a commercial agreement on Midazolam with German Desitin. ANALYSIS The agreement mainly includes the licensing, distribution and promotion, for up to 10 years after the commercial launch, of Zeneo Midazolam in Germany, unless certain opt-out options are exercised by Crossject or Desitin, for example concerning development deadlines or sales levels reached. A total of €2.5m prepayment will be made by Desitin to Crossject (€0.5m on signing, two development milestones of €0.5m each in early and mid-2020 and €1m on marketin...

Charles Pinel

Crossject 20 juin 2019

Le conseil n'étant pas majoritairement composé de membres libres de conflits d'intérêts potentiels, seul la candidature du membre considéré indépendant sera accepté sur les deux propositions de nomination au conseil (résolutions 5 et6). En raison de montants demandés considérés comme excessifs et de l'absence de suspension en periode d'offre publique, les différentes résolutions portant sur des augmentations de capital ne seront pas soutenues (résolutions 11 à 15). Par ailleurs, il est regrettable que le rapport spécial des commissaires aux comptes sur les conventions et engagements réglemen...

The 2018 bonds fully converted (Crossject)

The 2018 bonds fully converted EPS CHANGE CHANGE IN EPS2019 : € -0.48 vs -0.51 ns 2020 : € -0.34 vs -0.39 ns We have increased the total number of shares (from 13.6m at year-end 2018 to 18.4m in March 2019) following the conversion of all convertible bonds issued last year, which by the way confirms shareholders’ confidence in the company. The valuation does not significantly change (dilution on one side, a lower net debt position on the other one), but of course the apparent loss per share is smaller over the next two years. No other changes to our model.

Warrants to existing shareholders

Warrants to existing shareholders FINANCING ISSUE FACT Crossject indicated that it would grant shareholders free warrants (BSA). Each share held could translate into one warrant, with nine warrants entitling holders to get a share in Crossject at €1.80. ANALYSIS The move was expected and the main shareholder (Gemmes Venture, 26.74%) has already indicated it will exercise its warrants. Altogether, should all warrants be exercised, this would lead to the issuance of 18,447k warrants and 2,049k shares, or €3,689m. The warrants will be granted on 18 July and exercisable between 18 July and...

Olga Smolentseva ...
  • Thibaut Voglimacci-Stephanopoli

INVEST SECURITIES - CROSSJECT: Un premier accord sur ZENEO® Midazolam - ACHAT - OC 2,9€

A commercial success

A commercial success LATEST FACT Crossject announced the signature of a commercial agreement on Midazolam with German Desitin. ANALYSIS The agreement mainly includes the licensing, distribution and promotion, for up to 10 years after the commercial launch, of Zeneo Midazolam in Germany, unless certain opt-out options are exercised by Crossject or Desitin, for example concerning development deadlines or sales levels reached. A total of €2.5m prepayment will be made by Desitin to Crossject (€0.5m on signing, two development milestones of €0.5m each in early and mid-2020 and €1m on marketin...

The 2018 bonds fully converted (Crossject)

The 2018 bonds fully converted EPS CHANGE CHANGE IN EPS2019 : € -0.48 vs -0.51 ns 2020 : € -0.34 vs -0.39 ns We have increased the total number of shares (from 13.6m at year-end 2018 to 18.4m in March 2019) following the conversion of all convertible bonds issued last year, which by the way confirms shareholders’ confidence in the company. The valuation does not significantly change (dilution on one side, a lower net debt position on the other one), but of course the apparent loss per share is smaller over the next two years. No other changes to our model.

No major change post FY18 results (Crossject)

No major change post FY18 results EPS CHANGE CHANGE IN EPS2019 : € -0.51 vs -0.50 ns 2020 : € -0.39 vs -0.39 ns We have only fine-tuned our numbers after the release of FY18 results, which are anyway insignificant before the group’s products actually reach the market in FY2021, i.e. results (losses) before 2021 are almost simply the sum of operating costs. CHANGE IN NAV€ 10.0 vs 11.9 -15.4% The SOTP goes down a tick after the dilution stemming from the conversion of bonds at the beginning of the current year, the total number of shares rising from 13.6m to 15.7m. CHANGE IN DCF€ 15.0 vs 13....

A director bought 10,000 shares at 6.030EUR and

A director at Crossject bought 10,000 shares at 6.030EUR and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boa...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Charles Pinel

Crossject 20 juin 2019

Le conseil n'étant pas majoritairement composé de membres libres de conflits d'intérêts potentiels, seul la candidature du membre considéré indépendant sera accepté sur les deux propositions de nomination au conseil (résolutions 5 et6). En raison de montants demandés considérés comme excessifs et de l'absence de suspension en periode d'offre publique, les différentes résolutions portant sur des augmentations de capital ne seront pas soutenues (résolutions 11 à 15). Par ailleurs, il est regrettable que le rapport spécial des commissaires aux comptes sur les conventions et engagements réglemen...

Proxy Report - 17/05/2018

Nous regrettons le choix de la société de mettre en place les droits de vote double sous conditions de détention au nominatif depuis au moins de xu ans, qui constituent une rupture du principe de démocratie actionnariale et qui impose des coûts de passage au nominatif réellement importants pour de nombreux gérants d'actifs. Nous recommandons l'opposition à la résolition 11. Notons que la société a publié dans les délais légaux son rapport des commissaires aux comptes sur les comptes sociaux, ce qui est positif. Nous pourrons ainsi recommander l'approbation à la première résolution.

Jehanne Leroy

Etude de l'AG du 17/05/2017

Amélioration significative par rapport à l'an dernier : le rapport de gestion a, cette année, été publié dans les délais légaux spécifiques au marché Alternext (15 jours avant l'AG). Cependant, la société ne communique toujours pas dans les délais légaux les rapports des commissaires aux comptes sur les comptes ou sur les convention réglementées.​

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