Trinity Delta view: Avacta is a pure play oncology company centred on the proprietary pre|CISION platform and PDC (peptide drug conjugate) assets, with management striving to reduce shareholder dilution as these advance towards near- and mid-term value inflection points. Faridoxorubicin, currently the lead programme, demonstrates the ability of pre|CISION to deliver a potent, toxic payload to the tumour microenvironment (TME) with minimal systemic effects; AVA6103, the lead Gen Two programme exploiting a sustained release mechanism for its exatecan payload, is in Phase I studies; with the lead Gen Three programme expected to complete IND-enabling studies. In our view, the key takeaway from this raise is that institutional investors (and management) are prepared to participate in a placing at market prices, suggesting solid confidence in the platform’s future potential and management’s ability to deliver it. Following the raise, we suspend valuation and forecasts. For context our last published valuation was £471m ($603m) or 103p/share.
Lighthouse
8 June 2026
| Price | 71.5p |
| Market Cap | 325.4m |
| 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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