Oryzon Genomics

SP: ORY

€113.6m market cap

€2.48 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 develops small molecule inhibitors for epigenetic targets. The company has completed 1 Phase II and has 6 ongoing Phase II trials with two assets iadademstat (a specific LSD1 inhibitor) and vafidemstat (a CNS-optimized LSD1 inhibitor). In December 2019, Oryzon presented more data from the Phase II ALICE trial (iadademstat plus azacitidine) in AML, which continues to impress. In October 2019, Oryzon released efficacy results from its Phase IIa REIMAGINE trial with vafidemstat in aggressiveness in psychiatric diseases with improvement in all cohorts (BPD, ADHD and ASD). Oryzon is preparing a Phase IIb PORTICO with vafidemstat in BPD. In September 2019, Oryzon presented data from its Phase IIa CLEPSIDRA trial with iadademstat in SCLC with an OR achieved in 6/8 patients. First efficacy data from the Phase IIa ETHERAL trial in AD plus data from the Phase IIa trial in aggression in AD (REIMAGINE-AD) are expected in early Q220. A Phase IIa trial with vafidemstat in MS should also report in 2020.

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 9.8 (4.2) (5.1) (9.63) N/A N/A
2020E 9.9 (4.1) (4.7) (6.26) 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 26/03/2020
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (€m) 22.1
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (13.4) (14.8) (27.8)
Relative* 14.7 17.1 (5.7)
52-week high/low €4.4/€1.6
*% relative to local index
Key management
Carlos Buesa CEO

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