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 delivered FY21 results in-line with expectations. More importantly, these demonstrate continued progress and highlight the breadth of opportunities to which the Arestat platform, and in-house formulation expertise, can be applied. There are five additional technology partnerships, with sizeable players, that generate near-term value, validate the technology, and offer future significant licence potential. However, it is the in-house diabetes programmes, AT247 (ultra-rapid insulin) and AT278 (ultra-concentrated ultra-rapid insulin), that we find particularly attractive. Phase I data suggest both have highly promising, differentiated profiles that are particularly suited to emerging pump applications and high insulin users. We value Arecor at £140.9m, or 506p per share, with significant upside from clinical and operational progress.

Market information

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Ambitious, focussed, and delivering on its promise
Update | 25 Apr 2022
Formulation expertise exemplified in diabetes
Update | 20 Jan 2022
H121 results underline quality of management execution
Lighthouse | 23 Sep 2021

Recent News

AT278 Phase I data at ATTD
28 Apr 2022
Final FY21 financial results
25 Apr 2022
AT278 Phase I data to be presented at ATTD
12 Apr 2022
Arecor wins at CambridgeshireLive Business Awards
28 Mar 2022