AdAlta

AU: 1AD

AU$31.9m market cap

AU$0.13 last close

AdAlta is an Australian healthcare company focused on using its proprietary i-body discovery platform to target diseases, with an initial focus on idiopathic pulmonary fibrosis.

Investment summary

AdAlta is a clinical-stage company that uses its proprietary i-body discovery platform to target diseases, with an initial focus on conditions involving fibrosis. Its lead programme is AD-214, a C-X-C chemokine receptor type 4 (CXCR4) inhibitor for the treatment of idiopathic pulmonary fibrosis (IPF), which is in the healthy volunteer portion of a 84-subject Phase I programme with single dose data in hand. IPF is an orphan progressive lung disease that remains a significant unmet medical need, despite two approved blockbuster therapies, with median survival post-diagnosis of three to five years. Beyond AD-214, AdAlta licensed the i-body platform to GE Healthcare for the purpose of diagnostic imaging.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2019A 3.5 (6.0) (5.9) (5.02) N/A N/A
2020A 3.8 (5.8) (5.9) (3.62) N/A N/A
2021E 3.2 (5.9) (6.1) (2.42) N/A N/A
2022E 3.3 (6.0) (6.2) (2.44) N/A N/A
Industry outlook

It is estimated that over 100,000 people in the US and a similar number in Europe have IPF. It is a progressive disease where median survival after diagnosis is three to five years and the two approved medications for IPF (US$2.9bn in sales in 2019) have limited efficacy and toxicity issues.

Last updated on 10/05/2021
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Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (A$m) 3.6
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (29.7) (18.8) 118.7
Relative* (30.3) (21.0) 65.2
52-week high/low A$0.2/A$0.1
*% relative to local index
Key management
Paul MacLeman Chairman
Tim Oldham CEO