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Actinogen Medical (ASX: ACW)

Last close As at 20/05/2024

AUD0.03

— 0.00 (−3.70%)

Market capitalisation

AUD73m

Actinogen Medical is an ASX-listed Australian biotech developing its lead asset Xanamem, a specific and selective 11beta-HSD1 inhibitor designed to treat cognitive impairment (CI), which occurs in chronic neurodegenerative and neuropsychiatric diseases.

The unmet need in chronic neurocognitive disorders is tremendous due to the limited effectiveness of available treatment options. The Phase IIb portion of the XanaMIA trial will be key for validating the encouraging Xanamem data shown to date. The XanaCIDD study may also validate the drug’s potential for treating CI related to major depressive disorder.

Latest Insights

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Healthcare | Update

Actinogen Medical — Funding in place through key catalysts

Healthcare | Flash note

Actinogen Medical — First patient dosed in Phase IIb XanaMIA study

Healthcare | Update

Actinogen Medical — Pressing forward with Xanamem

Healthcare | Flash note

Actinogen Medical — Phase IIb XanaMIA study opens first study site
Actinogen Medical
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Sector

Healthcare

Equity Analyst

Pooya Hemami

Analyst - Healthcare

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

  • Dr Steven Gourlay

    CEO and MD

  • Michael Roberts

    Head of investor relations

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (17.0) (44.1) (50.9)
Relative (17.2) (45.3) (54.3)
52 week high/low A$0.1/A$0.0

Financials

Actinogen announced a capital increase of up to A$8.9m on 3 May, consisting of a A$5.0m (gross) placement along with a shareholder rights offering (‘entitlement offer’) designed to raise up to A$3.9m (gross) from existing shareholders. The closing date of the rights offer is 29 May and, given that Actinogen shares are currently trading at c A$0.028, we assume full exercise of the rights offering in Q424 (Q2 CY24). The company expects that the proceeds (assuming full exercise of the rights offering) will extend its operating runway beyond the interim results release of the first 100 patients of the XanaMIA Phase IIb study in cognitive impairment (CI) in patients with mild-to-moderate Alzheimer’s disease (AD), expected in mid-CY25. These results and the results from the XanaCIDD Phase IIa study in patients with CI associated with major depressive disorder (MDD), expected in early Q3 CY24, represent major potential value inflection points, and Actinogen is now funded past these two key catalysts. Our risk-adjusted net present value (rNPV) is A$544m (vs A$528m previously).

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 3.6 (9.1) (7.9) (0.460) N/A N/A
2023A 4.9 (10.6) (8.9) (0.494) N/A N/A
2024E 7.9 (14.7) (14.0) (0.621) N/A N/A
2025E 7.7 (14.0) (13.7) (0.512) N/A N/A

Research

Flash note

Healthcare

Actinogen Medical — First patient dosed in Phase IIb XanaMIA study

Update

Healthcare

Actinogen Medical — Pressing forward with Xanamem

Healthcare

Update

Actinogen Medical — Funding in place through key catalysts
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Thematics

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