Edison Investment Research Limited / GB00B2823H99
13.11.2023 - 10:05:20Edison issues update on e-therapeutics (ETX): More to come in RNAi therapy discovery
| Edison Investment Research Limited 13-Nov-2023 / 09:05 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 13 November 2023 e-therapeutics reported H1 FY24 results (to end-July 2023), reaffirming its commitment to integrating its computational and hepatocyte biology expertise to develop short interfering RNA (siRNA) therapies. The key half-year development was the proof-of-concept (PoC) data for two preclinical assets for the treatment of cardiometabolic disease and haemophilia, with further updates forthcoming. We view these pipeline updates, especially in segments with increased interest, as positive. Management continues to strengthen its intellectual property (IP) position and has filed new patent applications to protect 11 inventions relating to its novel targets and siRNA constructs. In our view, the company’s cost-effective and flexible approach is a key differentiator, especially in light of the challenging funding environment for drug discovery. In H1 FY24, R&D spend was £5.3m, and the company expects an increase in H2 FY24 with further development of its AI capabilities and progression of its in-house preclinical pipeline. At end-July 2023, e therapeutics had a net cash position of £24.8m. At end-July 2023, e-therapeutics had £24.8m in net cash. Management emphasises that its lean and efficient computational approach to develop novel medicines (compared to traditional drug development programmes) affords it flexibility and the ability to contain costs. While we note that later-stage discovery efforts will be more capital intensive, the company is sufficiently funded to support its current strategy. Click here to view the full report. All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Soo Romanoff +44 (0)20 3077 5700 healthcare@edisongroup.com Dr Arron Aatkar +44 (0)20 3077 5700 healthcare@edisongroup.com Nidhi Singh +44 (0)20 3077 5700 healthcare@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
