Rezurock approval has positive read across for Redx
Lighthouse | 19 July 2021
Trinity Delta view: Redx Pharma has established a notable reputation for its medicinal chemistry expertise which it is exploiting through a combination of in-house developed programmes and partnerships (with AstraZeneca and Jazz Pharmaceuticals). The lead programme is RXC004, a porcupine inhibitor poised to enter Phase II studies in a selection of genetically selected solid tumours. RXC007 is the second in-house compound and Rezurock’s approval creates a clear regulatory pathway and, in our view, materially de-risks RXC007’s development process. Our rNPV model, employing conservative assumptions, generates a £350.7m valuation, equivalent to 128p/share (86p fully diluted).
19 July 2021
|Primary exchange||AIM London|
Redx Pharma specialises in the discovery and early clinical development of small molecule therapeutics, with an emphasis on oncology and fibrotic disease. Typically, these are progressed through proof-of-concept studies and then partnered for further development. The strategy has been validated by several collaborations.
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