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Trinity Delta view: Avacta is employing its pre|CISION technology to create a portfolio of PDCs (peptide drug conjugates) that improve the therapeutic index of highly potent yet systemically toxic oncology drugs. Recent clinical progress with AVA6103, the first of its next generation PDCs enabling sustained release of an exatecan payload, provides early human validation that the platform successfully replicates the promising results seen in preclinical models. Initial AVA6103 efficacy data in H127 should be a critical milestone for Avacta; confirmed targeted tumour localisation and a reduction in systemic toxicity in multiple solid tumour clinical settings should serve as the crucial validation step required to de-risk the wider pre|CISION platform. Robust human clinical data should also act as the natural catalysts to drive meaningful, well-validated commercial partnerships. AVA6207, the lead next-gen dual payload programme, is close to candidate selection and targeting an IND around end-2027 or early-2028. As usual, following this proposed fundraise we suspend our valuations and forecast. Our last published Avacta valuation was £525m or 111p/share (105p fully diluted).
Lighthouse
30 September 2026
| Price | 72.0p |
| Market Cap | 337.4m |
| Primary exchange | AIM |
| Sector | Healthcare |
| Company Code | AVCT |
| Corporate client | Yes |
Company description
Avacta is a clinical stage biotech focused on the novel pre|CISION platform to generate peptide-drug conjugates to target delivery of toxic payloads into the tumour microenvironment, which has the potential to expand the reach and reduce the systemic toxicities of highly potent cancer therapeutics. Lead programme faridoxorubicin is in Phase Ib, AVA6103 is in Phase Ia, and multiple next generation candidates are in preclinical development.
Analysts
Lala Gregorek
lgregorek@trinitydelta.org
+44 (0) 20 3637 5043
Franc Gregori
fgregori@trinitydelta.org
+44 (0) 20 3637 5041
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