Setting the stage
Update | 6 March 2019
e-therapeutics ended its FY19 (year-ending 31 January 2019) on a high, securing its first commercial collaboration with Novo Nordisk in December (see Update note). Business development and cost control were the focus areas for FY19. The Novo deal in Type 2 diabetes marked a first success on the former, providing important validation for e-therapeutics’ proprietary Network-Driven Drug Discovery (NDD) platform. Prudent cost management means end-FY19 cash of £5.9m, coupled with an anticipated £1.1m tax credit, provides a two-year runway on our estimates. The goal is to now capitalise on ongoing, and new, business development discussions covering the full range of e-therapeutics’ assets and capabilities, to help progress NDD-derived projects and further exploit the NDD platform. Our valuation is £57.8m (21.9p/share).
|Adj. PBT (£m)||(13.4)||(6.7)||(5.4)||(3.9)|
|Net Income (£m)||(13.1)||(5.4)||(4.3)||(3.1)|
|Adj. EPS (p)||(3.9)||(2.0)||(1.6)||(1.1)|
6 March 2019
|Shares in issue||268.6m|
|12 month range||5.8p-10.4p|
|Primary exchange||AIM London|
e-Therapeutics is a drug discovery company with a proprietary network driven drug discovery (NDD) platform. Following management changes and a strategic review in 2017, the focus is now on optimising its discovery processes and platform, and securing industry collaborations and partners for its projects.
+44 20 3637 5043
Mick Cooper PhD
+44 20 3637 5042
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