Despite the favourable reaction to the announcement of the Bach Biosciences agreement (stock up 35%), Avacta’s market capitalisation is still much lower than biotech peers that have unique protein-based platforms and drug candidates in the clinical stage, where Avacta is on track to be by 2020.Full report is available via Capital Network website
- Overall Genedrive PLC (LON: GDR) reported a business and financial update for the six months to December 2017 in line with expectations
- Launch preparation of Genedrive® HCV test with partner Sysmex on track, expect sales to start coming through in CY2018
- £1.3mln income from the ongoing collaboration with the US DoD, in line with expectations
- Discussions for the disposal of the Services business are in progress
- With £4.6mln of cash at end-2017, and given the company's expected cash burn, a capital raise in the next 12 months can't be ruled out
- Full financial results for the six months to December 2017 to be published on March 20th
- Key inflection point: topline data readout from the PhaseOut DMD phase 2 trial in Duchenne (DMD) expected in 3Q 2018
- Imminent start of a pivotal phase 3 study for ridinilazole in C. difficile infections (CDI)
- Recent Discuva acquisition reinforces novel antibiotics discovery capabilities
- Current valuation (market cap of c. $165 mln) undemanding given the stage and commercial potential of Summit's lead programs
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
No investment advice
The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.
You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.
You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.
You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.
Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.