Onxeo

EU: ONXEO

€32.4m market cap

€0.55 last close

Onxeo’s lead compound, AsiDNA, is a first-in-class DNA break repair inhibitor based on a unique decoy mechanism. Currently it is evaluated in a Phase Ib trial with preliminary results expected in Q419. AsiDNA has a broad potential and can be combined with various anticancer treatments.

Investment summary

Onxeo’s portfolio focuses on its novel platON platform, from which AsiDNA was the first product to enter clinical development. AsiDNA is the only oligonucleotide decoy agonist in development that disrupts and exhausts the tumour DNA Damage Response mechanism. To date, the only approved similar class drugs are four commercially successful PARP inhibitors. AsiDNA is now being tested in the Phase Ib part of the DRIIV-1 trial at the Institut Curie in Paris in patients with advanced solid tumours in combination with chemotherapy. Onxeo’s R&D plans include finishing the ongoing Phase Ib study with AsiDNA in various solid tumours in combination with chemotherapy (first data end-2019) and initiating a Phase Ib/II in combination with a PARP inhibitor in 2020. Then, depending on results and available funding, the company may continue with Phase II trials in these combinations. The rationale for combinations is the expected synergy with chemotherapy and AsiDNA’s unique ability to abrogate the resistance to PARP inhibitors seen in preclinical studies.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (fd) (c)
P/E (x)
P/CF (x)
2017A 9.5 (17.4) (19.7) (23.58) N/A N/A
2018A 6.1 (3.0) (4.2) 5.19 10.7 N/A
2019E 3.3 (11.4) (11.9) (22.37) N/A N/A
2020E 3.3 (11.6) (12.2) (21.79) N/A N/A
Industry outlook

The approvals of first PARP inhibitors has kick-started the interest of the scientific community and large pharma in the DNA Damage Response field. Few biotechs are already positioned in this emerging field that has broad potential.

Last updated on 18/11/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (€m) 9.2
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (1.1) (17.9) (43.5)
Relative* (5.7) (26.3) (51.4)
52-week high/low €1.0/€0.5
*% relative to local index
Key management
Judith Greciet CEO
Nicolas Fellmann CFO
Valérie Leroy Director, Investor Relations & Corporate Com