Regeneus

AU: RGS

AU$23m market cap

AU$0.11 last close

Regeneus is a clinical-stage regenerative medicine company developing innovative cell-based therapies for the human & animal health markets.

Investment summary

Regeneus is developing its mesenchymal stem cell technology for musculoskeletal conditions in humans (Progenza) and animals (CryoShot). It has entered a collaboration with AGC for exclusive manufacture of Progenza cells for Japan. Regeneus and AGC have formed a 50:50 JV, which is seeking to sub-license partners to develop and commercialise Progenza in Japan in several indications. In Phase I, Progenza-treated patients experienced clinically meaningful reduction in knee pain and a significant improvement in lateral tibial knee cartilage. Regeneus was granted a US patent in July covering the composition and use of Progenza and it will soon be granted in Europe. Its autologous cancer vaccine RGSH4K was safe and showed encouraging signs of immune stimulation and antitumour activity in a Phase I study. Its Sygenus topical secretions technology improved the appearance of acne in adults in a clinical study and produced better pain relief than morphine in preclinical studies.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2017A 10.0 4.9 3.3 1.57 7.0 6.4
2018A 0.6 (4.8) (5.2) (2.48) N/A N/A
2019E 7.8 2.3 2.2 1.04 10.6 10.0
2020E 1.6 (4.0) (4.2) (2.00) N/A N/A
Last updated on 20/03/2019
Industry outlook

Regeneus focuses on early-stage product development, then partners. In addition to the AGC deal for Progenza in Japan, it has partnered with a global animal health company for CryoShot Canine. It will seek to identify wider applications of Progenza, beyond arthritis.

Last updated on 20/03/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (A$m) 2.2
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (15.4) (35.3) 0.0
Relative* (16.6) (41.8) (3.4)
52-week high/low A$0.2/A$0.1
*% relative to local index
Key management
Leo Lee CEO
John Bird CFO