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Ryvu Therapeutics

WSE: RVU

PLN675.6m market cap

PLN42.3 last close

Ryvu Therapeutics is an oncology R&D company. The two most advanced assets in clinical development are SEL24, a dual PIM/FLT3 inhibitor out-licensed to Menarini Group, and wholly owned SEL120, a selective CDK8 inhibitor. Ryvu also has a diversified preclinical R&D pipeline.

Investment summary

The corporate split is now complete and Selvita is continuing as Ryvu Therapeutics, which will focus on innovative drug development. The contract research organisation (CRO) business, which was spun out, has retained the Selvita brand and is also trading on the Warsaw Stock Exchange. Pawel Przewiezlikowski, co-founder and CEO of the former Selvita, continues to lead Ryvu Therapeutics, while Boguslaw Sieczkowski, co-founder and COO is now the CEO of the newly listed Selvita (CRO). We performed a detailed analysis of Ryvu Therapeutics assets in previous notes. Our last published SOTP valuation of the former Selvita implies a valuation for Ryvu of PLN935m or PLN58.6/share, which we will update with the Q3 results on 6 November 2019.

Y/E Dec
Revenue (PLNm)
EBITDA (PLNm)
PBT (PLNm)
EPS (gr)
P/E (x)
P/CF (x)
2017A 105.9 18.5 10.2 50.76 83.3 56.9
2018A 110.1 (5.4) 9.0 (0.68) N/A N/A
2019E 130.7 (5.8) (23.6) (147.78) N/A N/A
2020E 153.1 (1.7) (19.7) (123.33) N/A N/A
Industry outlook

The profiles of SEL24 and SEL120 are potentially unique compared to existing clinical-stage competitors and both candidates may offer efficacy advantages.

Last updated on 13/11/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (PLNm) 98.1
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (13.5) 17.2 30.7
Relative* (16.4) 12.2 29.7
52-week high/low 49.4gr/27.5gr
*% relative to local index
Key management
Paweł Przewięźlikowski CEO

Content on Ryvu Therapeutics