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Avacta Group - Rapid Progress of Immuno-oncology Programs

Avacta Group - Rapid Progress of Immuno-oncology Programs

KEY INVESTOR MESSAGES

  • Faster than expected development of the second immuno-oncology (I-O) program, a LAG3 inhibitor, allows company to evolve its lead program into a more ambitious LAG3/PD-L1 bispecific aiming to enter the clinic in 2020
  • Good progress of the ongoing external collaborations in two key areas: gene delivery (Moderna, OncoSec, FIT Biotech) and drug conjugates (Glythera)
  • Expect further licensing deals for Affimer reagents, based on multiple on-going evaluations
  • Stock price weakness reflects in our view uncertainty around a likely capital raise before year end rather than the company's strong fundamentals

 

We have updated our chart showing key milestones expected in the near term for the numerous in-house and external programs. 
 
The initial research phase of the collaboration with Moderna has a natural end point in May 2018; we expect Avacta to potentially announce an extension of this collaboration in the next couple of months or to have transferred an Affimer to Moderna for them to develop.

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Avacta Group Plc Timeline

CN Video
May 04 2018
CN Research
January 24 2018

Related Researches

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March 28 2018

e-therapeutics reported results for the full year to Jan 31st 2018; business updates reflect good progress on the main research programs. Cash balance of £9.6mn was slightly higher than we expected, thanks to careful cost management.
 

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November 16 2017
  • Genedrive (LON:GDR) on track to become a commercial stage, point-of-need diagnostics company
  • Launch of Genedrive® Hepatitis C (HCV) test at IFCC World Lab October 2017, with commercial sales expected in the coming quarters (African markets)
  • Distribution agreement signed for HCV test for Asia Pacific
  • Collaboration with the US Defense Department (bio-hazard program) to generate further income (c. $1.9mln) in the current fiscal year
  • Re-launch of Genedrive® MTB (tuberculosis) test is being reassessed
  • Management actively engaged in the disposal of the legacy service business (preclinical research and pharmacogenomics)
  • Cash position of £4.2mln as of 30 September 2017, enough to finance the ongoing business well into fiscal year 2019
  • Our SOTP valuation yields an equity value of c. £24mln, over 3x current market capitalization
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October 17 2017

KEY INVESTOR MESSAGES

  • Commercial launch of Genedrive® Hepatitis C (HCV) test expected to start in    the coming quarters (African markets)
  • Collaboration with the US Defense Department (bio-hazard program) to generate further income in the current fiscal year
  • Re-launch of Genedrive® MTB (tuberculosis) test in India is being reassessed
  • Divestment options for the Services business are being pursued
  • Cash position of £4.2mln as of 30 September 2017

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