Suda Pharmaceuticals

AU: SUD

AU$11.7m market cap

AU$0.04 last close

SUDA Pharmaceuticals is a drug delivery company focusing on developing oro-mucosal spray versions of established medicines. It has the rights to ZolpiMist, the spray version of Ambien for insomnia, outside of North America.

Investment summary

SUDA Pharmaceuticals has focused on reformulating established drugs into oro-mucosal spray formulations for better bioavailability. Its lead commercial product is ZolpiMist, an oro-mucosal spray version of Ambien for the treatment of insomnia that is partnered in certain regions with Teva and Mitsubishi Tanabe. SUDA is also working on formulating an oro-mucosal version of anagrelide for the treatment of solid tumours in patients who have high platelet counts. Anagrelide is currently used as an anti-thrombotic agent to reduce elevated levels of platelets in essential thrombocythemia. Additionally, SUDA is working on spray versions of sumatriptan for migraine, cannabinoids for various conditions, as well as other projects.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2018A 0.4 (5.9) (6.2) (11.20) N/A N/A
2019A 1.2 (1.9) (2.4) (1.54) N/A N/A
2020E 0.7 (4.0) (4.5) (3.12) N/A N/A
2021E 0.6 (4.8) (5.4) (3.69) N/A N/A
Industry outlook

SUDA is targeting very large markets. ZolpiMist is a spray version of Ambien which has 30m prescriptions in the US. Anagrelide is targeting multiple cancers, including ovarian, pancreatic and lung. Additionally, migraine has a prevalence of 13–15% in the US/EU.

Last updated on 11/08/2020
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (A$m) 0.8
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 36.7 5.2 (51.6)
Relative* 31.5 (6.8) (48.6)
52-week high/low A$0.1/A$0.0
*% relative to local index
Key management
Michael Baker CEO and Managing Director