Arecor Therapeutics
Little Chesterford, United Kingdom

Arecor is a revenue-generating clinical-stage drug developer. Its proprietary Arestat formulation platforms are the basis of an in-house and partnered pipeline of enhanced products with lower development risks and less onerous regulatory approvals.

Investment Perspective

Arecor has made significant progress since its June 2021 IPO in advancing its pipeline and in securing several technology formulation collaborations with established global companies. Its Arestat formulation expertise underpins both the clinical pipeline and this partner interest. Internal work is focused on Diabetes and Specialty Hospital products: both sources of potential future licensing deals. Arecor currently has three products under licence that will generate development and commercial milestones, plus sales royalties or equivalent, while select assets are in development in-house through to greater value-generation points, typically Phase II proof-of-concept, prior to out-licensing. In our view, the diabetes franchise provides the most upside: Phase I data to date for AT278 (ultra-concentrated ultra-rapid insulin) and AT247 (ultra-rapid insulin) shows highly promising, differentiated profiles that could be ideally placed to address emerging needs in diabetes. Our valuation is £174.5m, or 570p per share.

Market information

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Hikma licence milestone achieved
Update | 13 Jan 2023
Getting the chemistry right
Outlook | 20 Dec 2022
Specialty Hospital products formulation collaboration
Lighthouse | 10 Nov 2022

Recent News

AT278 data published in Diabetes Care
30 Jan 2023
Business update
19 Jan 2023
AT307 transfers to Hikma
12 Jan 2023
Tetris Pharma launches Ogluo in Austria
04 Jan 2023