Factor Therapeutics (FTT)

Business description

Factor Therapeutics is an Australian biotechnology company that specialises in the development and manufacture of biologics for advanced wound care applications. Its strategy is to use targeted growth factors to renew the wound environment and promote healing.

Stock data

Market cap.A$44.5m
Last closeA$0.06
High / Low (52 weeks)A$0.1 / A$0.0
Stock market listingAU
Forecast net cash (A$m)6.8
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(3.2)(6.2)79.4
Relative *(2)(6.8)67.3

* % Relative to local index

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Company news

Factor Therapeutics Announces Commencement of Phase II Trial of a Novel ...

Tue, 20 Dec 2016 13:52:30 GMT

Investor Center: Technicals in View for Factor Therapeutics Ltd (FTT.AX)

Mon, 29 May 2017 07:41:15 GMT

Factor Therapeutics forms medical board

Wed, 03 Aug 2016 07:30:00 GMT

Factor Therapeutics VF001 phase II trial

Fri, 07 Apr 2017 21:33:45 GMT

Trading Monitor: Watching Shares of Factor Therapeutics Ltd (FTT.AX)

Wed, 15 Mar 2017 05:15:00 GMT

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2015A 0.4 (7.1) (7.1) (4.03) N/A N/A
2016A 0.4 (4.1) (4.1) (3.04) N/A N/A
2017E 2.6 (5.8) (5.4) (0.75) N/A N/A
2018E 1.8 (4.7) (4.6) (0.63) N/A N/A

Last updated on 17/05/2017

Investment summary

Factor Therapeutics updated the market that at the end of Q117, 12 venous leg ulcer (VLU) patients had been randomised to VF-001 or placebo in its Phase IIb trial, with a further 11 patients undergoing the two-week screening period prior to randomisation. We model the recruitment rate steadily increasing to 50 subjects entering screening per month (33 randomised), with the 168-patient trial being fully recruited by September. This would allow the last patient to complete their 12-week follow-up visit in December, with top-line data for the per cent wound closure primary end point reported in Q118. This timing would represent slight slippage on the company’s target of top-line data read-out in Q417, but would leave our key valuation assumptions intact. Our valuation is unchanged at A$108m or A$0.15 per share.

Last updated on 17/05/2017

Industry outlook

Chronic wounds impose substantial costs on the healthcare system. The US$8.5bn global advanced wound care market is expected to grow at 4-5% per year, driven by an ageing population and rising incidence of ailments such as diabetes.

Last updated on 02/05/2017

Key management

Cherrell Hirst , Chairman
Nigel Johnson, CEO
Saskia Jo, Director of Finance
Chris Behrenbruch, Executive Director

Company address

Level 19, 179 Turbot Street
Brisbane
QLD 4000
Australia
+61 7 3334 390
View website