Jazz Pharmaceuticals $5m milestone triggered
Lighthouse | 15 June 2022
Trinity Delta view: The Jazz milestone is a welcome boost to recently enlarged cash resources but, more importantly, is further tangible evidence of the progress being achieved across a broad front. Redx Pharma has always sought to maximise the value of its discovery programmes, but with the inherent risks managed actively. This has resulted in a well-balanced clinical pipeline, with a mix of in-house and partnered programmes. It is the expected progress from these that should provide a stream of news flow over the next 12-18 months. We view May’s impressive equity raise as a testament to the strength of the investment case, which supports a wider appreciation of the equity story. Our rNPV model is currently under review following this placing and we will issue a revised valuation as soon as practicable.
15 June 2022
|Primary exchange||AIM London|
Redx Pharma specialises in the discovery and development of small molecule therapeutics, with an emphasis on oncology and fibrotic diseases. It aims to initially progress them through proof-of-concept studies, before evaluating options for further development and potential value creation.
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