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Actinogen Medical

AU: ACW

Market CapAU$174.4m

Last Close AU$0.09

Actinogen Medical is an ASX-listed Australian biotech developing lead asset Xanamem, a specific 11beta-HSD1 inhibitor designed to treat cognitive impairment that occurs in chronic neurological diseases.

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Investment summary

Actinogen is about to start enrolling subjects to the XanaMIA study (n=105), which will be conducted in two parts: Part A – dose ranging study; Part B – efficacy of Xanamem in patients with MCI due to Alzheimer’s disease (AD). The second Phase II trial in Fragile X syndrome (XanaFX study) is underway as well and the company received positive feedback from the FDA in June. The XanaFX study is a randomised, placebo-controlled 12-week trial that will be conducted in Australia and is expected to commence in Q421. The ongoing Phase II trials were designed after the latest Phase I XanaHES trial (Xanamem in healthy elderly subjects) reported a clinically significant, positive improvement in three of six domains in the Cogstate Neuropsychological Test Battery.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2019A 5.1 (9.5) (9.4) (0.86) N/A N/A
2020A 3.6 (4.9) (4.9) (0.44) N/A N/A
2021E N/A N/A N/A N/A N/A N/A
2022E N/A N/A N/A N/A N/A N/A
Industry outlook

The unmet need in chronic neurological and neuropsychiatric disorders is high due to limited available treatment options. While orphan indications like Fragile X syndrome provide a potentially faster route to market and higher drug pricing, mild cognitive impairment due to AD is a potentially large, unmet medical need. The recent FDA approval of Aduhelm (7 June) provides a fresh tailwind for drug developers in the field, given this is the first new drug for AD in 20 years.

Last updated on 03/08/2021
Content on Actinogen Medical
Executive interview – Actinogen Medical
Healthcare | Edison TV | 22 November 2019
Actinogen Medical – Phase II XanADu trial results
Healthcare | Flash note | 8 May 2019
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Share price graph
Balance sheet
Forecast net debt (A$m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (19.2) 59.1 365.8
Relative* (20.1) 51.3 275.5
52-week high/low A$0.2/A$0.0
*% relative to local index
Key management
Dr Steven Gourlay CEO and MD