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IRLAB Therapeutics (OMX: IRLAB-A)

Last close As at 02/05/2024

SEK11.15

▲ −0.25 (−2.19%)

Market capitalisation

SEK578m

Based in Sweden, IRLAB Therapeutics is focused on developing novel drugs for the treatment of neurodegenerative diseases utilising its ISP technology platform. Its two lead assets, mesdopetam and pirepemat, are in late-stage clinical trials for the symptomatic treatment of Parkinson’s disease (PD).

PD is characterised by a triad of cardinal motor symptoms, although non-motor symptoms are as debilitating and remain undertreated. Despite substantial efforts to develop disease-modifying approaches in PD, symptomatic treatment remains the mainstay.

Latest Insights

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Healthcare | Update

IRLAB Therapeutics — Beyond PD-LID, a closer look at PD-psychosis

Healthcare | Flash note

IRLAB Therapeutics — FDA thumbs up to mesdopetam’s Phase III plan

Healthcare | Flash note

IRLAB Therapeutics — Mesdopetam’s potential highlighted in PD-psychosis

Healthcare | Flash note

IRLAB Therapeutics — Positive FDA mesdopetam outlook following EoP2
IRLAB Therapeutics_resized
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Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Arron Aatkar

Associate analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • Viktor Siewertz

    CFO

Balance Sheet

Forecast net cash (SEKm)

74.2

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (26.6) (37.7) 14.0
Relative (25.9) (41.6) 0.8
52 week high/low SEK19.6/SEK5.9

Financials

IRLAB is focused on PD and other central nervous system (CNS) disorders. Its ISP discovery platform has been validated by the progress of lead assets, mesdopetam and pirepemat. Mesdopetam did not reach statistical significance on the primary endpoint (good ON-time) in a Phase IIb trial for levodopa-induced dyskinesias, but demonstrated significant ON-phase anti-dyskinetic efficacy, measured by UDysRS. It recently had an end-of-Phase II meeting with the FDA, which concluded with an endorsement for the company’s plans for a Phase III programme; we expect partnering talks to intensify in the coming weeks. Pirepemat is in a Phase IIb trial for impaired balance and falls in PD. Patient enrolment should be complete in Q324, with results expected after a double-blind treatment period of three months. IRLAB is also developing three preclinical assets, IRL757, IRL942 and IRL1117, for various CNS indications. Phase I studies for IRL757 (for apathy in PD and other neurological conditions) are expected to start from Q224.

Y/E Dec Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (öre) P/E (x) P/CF (x)
2022A 61.3 (108.3) (113.1) (218.0) N/A N/A
2023A 5.7 (176.5) (177.8) (343.0) N/A N/A
2024E 0.0 (185.5) (191.3) (369.0) N/A N/A
2025E 0.0 (173.6) (189.7) (366.0) N/A N/A

Research

Flash note

Healthcare

IRLAB Therapeutics — FDA thumbs up to mesdopetam’s Phase III plan

Flash note

Healthcare

IRLAB Therapeutics — Mesdopetam’s potential highlighted in PD-psychosis

Healthcare

Update

IRLAB Therapeutics — Beyond PD-LID, a closer look at PD-psychosis
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Thematics

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