International Stem Cell

US: ISCO

$10m market cap

$1.48 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 an early-stage cell therapy company in Phase I/IIa clinical trials to treat Parkinson’s disease (PD), and recently completed dosing of the second patient in their third cohort (a total of 10 so far). Updated data were recently released and indicated that off-time percentage decreased an average of 49% for the second cohort at six months post-transplantation. Also, with its hpSC technology, ISCO has created 15 stem cell lines, each of which is a different HLA type. From this, it creates different cell types such as liver cells, neural cells and three-dimensional eye structures. Sales of its biomedical business were up 112.8% in Q318 to $2.8m.

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2016A 7.2 (4.5) (4.9) (152.07) N/A N/A
2017A 7.5 (4.6) (4.9) (118.86) N/A N/A
2018E 11.5 (2.8) (3.2) (50.00) N/A N/A
2019E 13.5 (5.9) (7.0) (104.69) N/A N/A
Last updated on 21/03/2019
Industry outlook

ISCO’s technology platform is based on human parthenogenetic stem cells (hpSCs). Parthenogenetic stem cells are created from unfertilized 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 21/03/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net debt (US$m) 0.9
Forecast gearing ratio (%) 27
Price performance
%
1m
3m
12m
Actual (2.0) (1.3) (2.0)
Relative* (4.7) (16.5) (6.9)
52-week high/low US$1.8/US$1.4
*% 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