Oryzon Genomics

SP: ORY

€182m market cap

€3.43 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, has completed several Phase IIa trials and a Phase IIb trial in borderline personality disorder is ongoing. ORY-3001 is being developed for certain orphan indications.

Investment summary

Oryzon develops small molecule inhibitors for epigenetic targets. It has completed five Phase II and has three ongoing Phase II trials with two assets iadademstat (a specific LSD1 inhibitor) and vafidemstat (a CNS-optimised LSD1 inhibitor). Oryzon reported data in March 2021 from its two Phase IIa trials focusing on AD (ETHERAL and REIMAGINE-AD). Vafidemstat was confirmed to be safe and was effective in controlling aggression and agitation, which is a key focus area for Oryzon. To this end, in July 2020 results from the Phase IIa REIMAGINE trial with vafidemstat for aggressiveness in psychiatric diseases showed improvement in all cohorts (BPD, ADHD and ASD). Oryzon has enrolled the first BPD patient in the Phase IIb PORTICO trial for vafidemstat and also announced a new trial for schizophrenia (EVOLUTION). In December 2020, Oryzon presented more data from the Phase II ALICE trial (iadademstat plus azacitidine) in AML, which continues to impress, and has been granted Orphan Drug Designation.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (c)
P/E (x)
P/CF (x)
2019A 10.3 (3.7) (4.6) (8.81) N/A N/A
2020A 9.5 (4.2) (4.8) (6.88) N/A N/A
2021E 9.9 (4.1) (4.2) (5.51) N/A N/A
2022E N/A N/A N/A N/A 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 05/05/2021
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Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (€m) 8.7
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (4.7) (6.0) (4.3)
Relative* (8.9) (13.9) (28.0)
52-week high/low €4.3/€2.6
*% relative to local index
Key management
Carlos Buesa CEO

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