International Stem Cell

US: ISCO

$4.5m market cap

$0.6 last close

International Stem Cell is an early-stage biotechnology company developing therapeutic, biomedical and cosmeceutical applications for its proprietary stem form of pluripotent stem cells – human parthenogenetic stem cells (hpSCs). Its lead candidate is a cell therapy treatment for Parkinson’s disease.

Investment summary

International Stem Cell (ISCO) is in Phase I/IIa clinical trials with its ISC-hpNSC therapy to treat Parkinson’s disease (PD), and recently completed dosing of the third cohort (a total of 12 patients across all three cohorts) with full data in H120. It also has commercial operations to leverage its human parthenogenetic stem cell technology and generate revenues to partially offset R&D spending for therapeutic development. Lifeline Skin Care (LSC) develops and sells skincare products and Lifeline Cell Technology (LCT) produces human cell culture products for testing. Sales in 2018 were up 48.7% compared with 2017, mainly due to LCT revenues which were up 78.4% year-on-year.

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2017A 7.5 (4.6) (4.9) (118.86) N/A N/A
2018A 11.1 (3.2) (3.5) (54.38) N/A N/A
2019E 9.9 (3.6) (4.1) (54.10) N/A N/A
2020E 10.7 (7.9) (9.3) (116.27) N/A N/A
Last updated on 16/09/2019
Industry outlook

ISCO’s technology platform is based on human parthenogenetic stem cells (hpSCs). Parthenogenetic stem cells are created from unfertilised human eggs (oocytes) chemically activated to make the cells pluripotent. As hpSCs express fewer parental histocompatibility antigens, they reduce the risk of immune rejection.

Last updated on 16/09/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net debt (US$m) 3
Forecast gearing ratio (%) 284
Price performance
%
1m
3m
12m
Actual (14.3) (22.1) (60.2)
Relative* (17.4) (25.0) (61.4)
52-week high/low US$1.7/US$0.5
*% relative to local index
Key management
Andrey Semechkin CEO and Co-Chairman
Donald Wright Co-Chairman
Jennifer Stephens Acting CFO
Russell Kern Executive Vice President, CSO