ProQR Therapeutics N.V Dossier - Source-backed chat

ProQR Therapeutics N.V

PRQRNASDAQ

SectorHealth Care

IndustryBiotechnology

Beta (adjusted)0.36

Intrinsic Value

No headline value published yetWe haven't published a headline intrinsic value for this company yet. Our data-reliability standards weren't met. Method estimates are shown for reference.

Market Price $1.63Price as of 1 Oct 2026

Data confidence Sign in to view data confidence

Market Cap $230M

Enterprise Value $160.1M

Shares Outstanding 141.1M diluted

Next Earnings Date5 Nov 2026

All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference.

Thesis

Street consensus, scenarios, merits, risks, and invalidation triggers

AI-assisted

Thesis Summary

ProQR Therapeutics is a pioneer in the next-generation RNA base editing space through its proprietary Axiomer platform, which recruits endogenous ADAR enzymes to make precise single-nucleotide edits. Following a strategic pivot away from ophthalmology to focus entirely on Axiomer, the company has built a robust pipeline led by AX-0810 for cholestatic diseases. With clinical target engagement data for AX-0810 expected in Q2 2026 and a cash runway extending into mid-2027, ProQR offers an attractive risk-reward profile. The platform is validated by a deep collaboration with Eli Lilly, which provides non-dilutive milestone funding and technical synergy.

This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today.

Street view · analyst 12-month targets8 analysts · as of 18 Aug 2026

Low · most bearish analyst$3.00

Mean target$8.25

High · most bullish analyst$12.00

Our research · scenarios, merits, risks, and invalidation triggersResearch as of 20 Jun 2026

Scenarios · 12-month scenario targetsAnchored at research date

Bear CaseDownside scenario

$4.0015%

AX-0810 target engagement data is ambiguous or shows safety concerns, stalling the platform's clinical validation. Delays in CTA filings for follow-on candidates and a lack of near-term milestone payments from Eli Lilly force the company to seek highly dilutive financing before mid-2027.

Base CaseCentral scenario

$7.2560%

AX-0810 achieves positive target engagement data in Q2 2026, supporting the planned Phase 2 trial in biliary atresia. CTA filings for AX-0811 and AX-0422 progress on schedule, and the company continues to execute under the Eli Lilly partnership, maintaining its mid-2027 cash runway.

Bull CaseUpside scenario

$14.0025%

AX-0810 demonstrates robust, best-in-class target engagement in healthy volunteers in Q2 2026, validating the Axiomer platform in humans. Rapid clinical translation of AX-0811 and AX-0422 occurs alongside additional high-value milestones from Eli Lilly, extending the cash runway well into 2028 and driving significant upward valuation adjustments.

Scenarios are anchored to street consensus at the research date, with our probabilities and rationale.

Key Investment Merits

Pioneering Axiomer RNA base editing platform utilizing endogenous ADAR, avoiding the immunogenicity and delivery challenges of exogenous CRISPR machinery.
Strong validation and non-dilutive funding from the Eli Lilly collaboration, which has already yielded $4.5 million in milestones during 2025.
Clear near-term clinical catalysts, including AX-0810 target engagement data in Q2 2026 and AX-0811 initial clinical data by year-end 2026.
Integration of AI-enabled discovery and high-throughput screening in partnership with Ginkgo Bioworks to accelerate pipeline expansion.

Key Investment Risks

Clinical-stage risk: The Axiomer platform's therapeutic efficacy and safety in humans remain to be fully proven in patient populations.
Limited cash runway: Current cash of €81.1 million only funds operations into mid-2027, requiring additional capital or milestones to avoid dilution.
Intense competition in the RNA editing space from well-capitalized peers such as Wave Life Sciences and Korro Bio.

Thesis Invalidation Triggers

Failure of AX-0810 to show meaningful target engagement or acceptable safety in the Q2 2026 healthy volunteer readout.
Termination or material downscaling of the strategic collaboration with Eli Lilly.
Severe clinical or regulatory delays in filing CTAs for AX-0811 or AX-0422.

All scenarios are estimates and subject to change. Past performance is not indicative of future results.

Quality Pillars Members

This section is available to registered members. Create a free account or sign in to unlock the full breakdown.

Explore this dossier

ValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework.