Biodexa Pharmaceuticals is a clinical-stage biopharmaceutical company focused on oncology and rare/orphan indications. MTX110 is in Phase I clinical studies in aggressive rare/orphan brain cancer indications and tolimidone is due to start Phase I trials in type I diabetes in Q124. The preclinical pipeline includes MTD217, targeting leptomeningeal disease.
The brain cancer space comes with a high risk-reward trade off, although successful therapeutics stand to benefit materially given the unmet need. The glioblastoma therapeutics market is a $3–5bn opportunity with only a handful of drugs approved, highlighting the potential for novel therapeutics.
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Dr Stephen Parker
Chairman
Stephen Stamp
CEO and CFO
Forecast net debt (£m)
N/A
Forecast gearing ratio (%)
N/A
% | 1M | 3M | 12M |
---|---|---|---|
Actual | (28.6) | (61.3) | (96.5) |
Relative | (26.3) | (62.9) | (97.1) |
52 week high/low | US$20.8/US$0.7 |
Following a strategic pivot in early-2023, Biodexa is now positioned as a therapeutics company with a focus on disease areas with unmet need. The current pipeline focus is on the legacy Phase I asset, MTX110, currently undergoing clinical studies in aggressive brain cancers such as glioblastoma (Phase Ib trial ongoing; progression free survival data expected in Q224) with plans for an Investigational New Drug application in diffuse midline gliomas in Q324. The preclinical program includes MTD217, targeting leptomeningeal disease, a secondary central nervous system cancer with poor prognosis. To bolster its pipeline further, Biodexa completed the acquisition of a novel lyn kinase activator, tolimidone in December 2023 with plans to develop it for type I diabetes. H123 ended with a £5.23m cash balance, bolstered further by a $6m equity raise in December 2023.
Y/E Dec | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
---|---|---|---|---|---|---|
2021A | 0.6 | (6.6) | (6.1) | (6.78) | N/A | N/A |
2022A | 0.7 | (8.6) | (8.5) | (1.55) | N/A | N/A |
2023E | N/A | N/A | N/A | N/A | N/A | N/A |
2024E | N/A | N/A | N/A | N/A | N/A | N/A |