Oryzon Genomics

SP: ORY

€124.6m market cap

€2.72 last close

Oryzon Genomics is a Spanish biotech focused on epigenetics. Iadademstat (Phase IIa) is being explored for acute leukaemias and SCLC; vafidemstat, its CNS product, is in Phase IIa trials in MS, AD and aggression. Newer asset ORY-3001 is being developed for certain orphan indications.

Investment summary

Oryzon’s expertise lies in developing small molecule inhibitors for epigenetic targets. The company has a total of five Phase II studies ongoing with its two lead assets iadademstat (a specific LSD1 inhibitor) and vafidemstat (a dual LSD1/MAOB inhibitor). The first efficacy data were published from a Phase IIa REIMAGINE trial with vafidemstat in aggressiveness (BPD, adult ADHD and autism spectrum disorder cohorts) and showed that all primary and secondary endpoints were met. Further data (in additional psychiatric patients and in AD) will be published in coming months. In June 2019, Oryzon published the first positive data (dose-finding, initial efficacy) from a Phase IIa ALICE trial with iadademstat in AML, while in July 2019 the interim data was presented from the Phase IIa ETHERAL trial with vafidemstat in AD. Two other Phase IIa trials with vafidemstat in MS and iadademstat in SCLC are also expected to deliver data in coming months.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (c)
P/E (x)
P/CF (x)
2017A 4.3 (3.5) (4.6) (14.29) N/A N/A
2018A 6.8 (2.8) (3.7) (3.37) N/A N/A
2019E 6.1 (6.0) (6.8) (17.31) N/A N/A
2020E 6.1 (6.2) (6.8) (17.35) N/A N/A
Last updated on 19/09/2019
Industry outlook

Epigenetics is a relatively young field in terms of drug development. Oryzon is among the leading clinical-stage drug developers with a second generation of epigenetic therapeutics, which have greater selectivity and potentially a favourable safety/efficacy profile than the first generation HDAC inhibitors.

Last updated on 19/09/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (€m) 3
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (5.1) (21.0) (41.3)
Relative* (9.2) (20.2) (39.1)
52-week high/low €4.4/€2.1
*% relative to local index
Key management
Carlos Buesa CEO

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