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Hepion Pharmaceuticals

US: HEPA

$130.4m market cap

$1.71 last close

Hepion Pharmaceuticals is a clinical stage biopharmaceutical company focused on developing therapeutics for chronic liver disease. The company’s lead asset is CRV431, a cyclophilin inhibitor being developed for the treatment of non-alcoholic steatohepatitis (NASH).

Investment summary

Despite a challenging operating environment due to COVID-19, Hepion was able to advance its CRV431 development program (for the treatment of non-alcoholic steatohepatitis, NASH) without major disruption, despite widespread issues for many companies in enrolling clinical studies. The company completed Phase I testing during 2020 and initiated a Phase IIa study that is nearing completion (Q221).

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2019A 0.0 (7.7) (7.9) (341.55) N/A N/A
2020A 0.0 (17.7) (17.9) (185.69) N/A N/A
2021E 0.0 (19.6) (19.6) (25.69) N/A N/A
2022E 0.0 (17.0) (17.0) (21.26) N/A N/A
Industry outlook

There currently are no approved medications for NASH, but a large number of programs in development. Fatty liver disease affects 20% of US and European populations and 20% of these are expected to progress to NASH. We expect CRV431 to be marketed for severe cases (F2 and F4), which we estimate has a market of 1.4 million in the US and Europe.

Last updated on 13/04/2021
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Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (US$m) 102.2
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (29.9) (22.6) 9.6
Relative* (33.3) (28.8) (26.9)
52-week high/low US$4.6/US$1.3
*% relative to local index
Key management
Robert Foster CEO
John Cavan FD