Oryzon Genomics


Market Cap€116m

Last Close €2.12

Oryzon Genomics is a Spanish biotech focused on epigenetics. Iadademstat is being explored for acute leukaemias and SCLC. Vafidemstat, its CNS asset, has completed several Phase IIa trials and a Phase IIb trial in BPD is now the lead study, but Oryzon is rapidly expanding its CNS R&D pipeline.

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Investment summary

Oryzon develops small molecule inhibitors for epigenetic targets. The two lead drugs are iadademstat for oncology and vafidemstat for central nervous system (CNS) indications (both are LSD1 inhibitors, an epigenetic target). In oncology, the ALICE trial continues to show positive results in acute myeloid leukaemia (AML) while new trials FRIDA in AML and STELLAR in small cell lung cancer (SCLC) could potentially be pivotal, with the FDA having now granted orphan drug designation for iadademstat in AML and SCLC. In CNS, vafidemstat is being evaluated in two Phase IIb trials, PORTICO in borderline personality disorder (BPD) and EVOLUTION in schizophrenia, with interim results from PORTICO expected in Q123. Oryzon is also hoping to register vafidemstat in its Phase I/II HOPE study targeting Kabuki syndrome, a rare disorder that affects multiple CNS systems, with an objective to target further orphan drug designation in this indication.

Y/E Dec
Revenue (€m)
PBT (€m)
EPS (fd) (c)
P/E (x)
P/CF (x)
2020A 9.5 (4.1) (4.8) (6.90) N/A N/A
2021A 10.6 (6.9) (7.2) (8.83) N/A N/A
2022E 14.4 (5.2) (5.2) (5.80) N/A N/A
2023E 15.9 (5.7) (6.1) (7.08) N/A N/A
Industry outlook

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 30/11/2022
Content on Oryzon Genomics
Oryzon Genomics – IND granted for collaborative Phase II trial
Healthcare | research Flash note | 9 November 2022
Oryzon Genomics – Clinical ramp in Q3; several catalysts approaching
Healthcare | research Update | 3 November 2022
Oryzon Genomics – Encouraging safety data in PORTICO
Healthcare | research Flash note | 16 September 2022
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Share price graph
Balance sheet
Forecast net debt (€m) 5.2
Forecast gearing ratio (%) 8
Price performance
Actual (0.5) (14.0) (29.9)
Relative* (5.3) (18.9) (30.3)
52-week high/low €3.2/€2.1
*% relative to local index
Key management
Carlos Buesa CEO