e-Therapeutics

LN: ETX

£6.9m market cap

2.55p last close

e-Therapeutics is a UK-based drug discovery company that has developed a proprietary network pharmacology discovery platform. Its focus is now on commercialisation: securing partners for its discovery and development projects.

Investment summary

e-Therapeutics’ (ETX) FY19 results demonstrated continued financial prudence and its focus on partnering, out-licensing and non-dilutive financing. The FY19 operating loss was £5.1m, which is the same as our estimate. The cash outflow was £3.7m, resulting in a cash balance of £5.9m at the end of FY19. Both R&D and administrative expenses had been reduced from FY18 and the recently announced Novo collaboration generated £0.04m in FY19.

Y/E Jan
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2018A 0.0 (6.7) (6.7) (2.0) N/A N/A
2019A 0.0 (5.1) (5.1) (1.51) N/A N/A
2020E 0.5 (3.5) (3.5) (0.9) N/A N/A
2021E 0.0 (3.0) (3.0) (0.8) N/A N/A
Last updated on 15/08/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (£m) 3.8
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (29.2) 22.6 (69.1)
Relative* (24.7) 26.8 (67.0)
52-week high/low 8.2p/1.5p
*% relative to local index
Key management
Iain Ross Chairman
Raymond Barlow CEO
Steve Medlicott CFO

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