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Actinogen Medical


Market CapAU$257.4m

Last Close AU$0.16

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

During a recent strategic update the new CEO, Dr Steven Gourlay, confirmed Actinogen aims to initiate new Phase II trials: Fragile X syndrome (XanaFX study) and mild cognitive impairment due to Alzheimer’s disease (AD) (XanaMIA study). XanaMIA will start enrolling patients in July and be conducted in two parts: Part A – dose ranging study; Part B – efficacy of Xanamem in patients with MCI due to AD. XanaFX is fully funded and pre-IND interactions with the FDA are pending. This follows the Phase I XanaHES trial (Xanamem in healthy elderly subjects), which was designed to assess the safety and explore the effects of Xanamem on cognition. The XanaHES study reported a clinically significant, positive improvement in three of six domains in the Cogstate Neuropsychological Test Battery.

Y/E Jun
Revenue (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 21/06/2021
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
Actual 121.4 400.0 508.3
Relative* 114.9 364.9 392.6
52-week high/low A$0.2/A$0.0
*% relative to local index
Key management
Dr Steven Gourlay CEO and MD