Based in Sweden, IRLAB Therapeutics is focused on developing novel drugs for the treatment of neurodegenerative diseases utilising its ISP technology platform. Its two lead assets, mesdopetam and pirepemat, are in late-stage clinical trials for the symptomatic treatment of Parkinson’s disease (PD).
PD is characterised by a triad of cardinal motor symptoms, although non-motor symptoms are as debilitating and remain undertreated. Despite substantial efforts to develop disease-modifying approaches in PD, symptomatic treatment remains the mainstay.
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Viktor Siewertz
CFO
Forecast net cash (SEKm)
74.2
Forecast gearing ratio (%)
N/A
% | 1M | 3M | 12M |
---|---|---|---|
Actual | (26.9) | (24.8) | 10.1 |
Relative | (26.6) | (30.4) | (2.0) |
52 week high/low | SEK19.6/SEK5.9 |
IRLAB is focused on PD and other central nervous system (CNS) disorders. Its ISP discovery platform has been validated by the progress of lead assets, mesdopetam and pirepemat. Mesdopetam did not reach statistical significance on the primary endpoint (good ON-time) in a Phase IIb trial for levodopa-induced dyskinesias, but demonstrated significant ON-phase anti-dyskinetic efficacy, measured by UDysRS. It recently had an end-of-Phase II meeting with the FDA, which concluded with an endorsement for the company’s plans for a Phase III programme; we expect partnering talks to intensify in the coming weeks. Pirepemat is in a Phase IIb trial for impaired balance and falls in PD. Patient enrolment should be complete in Q324, with results expected after a double-blind treatment period of three months. IRLAB is also developing three preclinical assets, IRL757, IRL942 and IRL1117, for various CNS indications. Phase I studies for IRL757 (for apathy in PD and other neurological conditions) are expected to start from Q224.
Y/E Dec | Revenue (SEKm) | EBITDA (SEKm) | PBT (SEKm) | EPS (öre) | P/E (x) | P/CF (x) |
---|---|---|---|---|---|---|
2022A | 61.3 | (108.3) | (113.1) | (218.0) | N/A | N/A |
2023A | 5.7 | (176.5) | (177.8) | (343.0) | N/A | N/A |
2024E | 0.0 | (185.5) | (191.3) | (369.0) | N/A | N/A |
2025E | 0.0 | (173.6) | (189.7) | (366.0) | N/A | N/A |