e-therapeutics (LSE: ETX)

Currency in GBP

Last close As at 28/11/2023


−0.78 (−7.48%)

Market capitalisation


e-therapeutics is a UK biotech using its proprietary computational biology and RNAi platforms to discover novel disease targets and therapies. The company is specifically focused on leveraging its expertise to design treatments targeting one cell type in the liver, hepatocytes.

The application of AI platforms in the pharmaceutical industry has evolved significantly and has matured to a stage where the first purely AI-generated candidates have entered clinical trials. We believe that platforms capable of designing novel, effective drugs and with the ability to identify new disease targets will offer an advantage over competitors.

Latest Insights

Healthcare | Update

e-therapeutics — More to come in RNAi therapy discovery

Healthcare | Initiation

e-therapeutics — Enhancing siRNA drug discovery with LLMs




Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Key Management

  • Ali Mortazavi


  • Laura Roca-Alonso

    Chief business officer

Balance Sheet

Forecast net debt (£m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual (7.9) (36.6) (53.6)
Relative (10.9) (37.7) (53.1)
52 week high/low 23.1p/9.2p


e-therapeutics reported H1 FY24 results (to end-July 2023), reaffirming its commitment to integrating its computational and hepatocyte biology expertise to develop short interfering RNA (siRNA) therapies. The key half-year development was the proof-of-concept (PoC) data for two preclinical assets for the treatment of cardiometabolic disease and haemophilia, with further updates forthcoming. We view these pipeline updates, especially in segments with increased interest, as positive. Management continues to strengthen its intellectual property (IP) position and has filed new patent applications to protect 11 inventions relating to its novel targets and siRNA constructs. In our view, the company’s cost-effective and flexible approach is a key differentiator, especially in light of the challenging funding environment for drug discovery. In H1 FY24, R&D spend was £5.3m, and the company expects an increase in H2 FY24 with further development of its AI capabilities and progression of its in-house preclinical pipeline. At end-July 2023, e therapeutics had a net cash position of £24.8m.

Y/E Jan Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2022A 0.5 (9.4) (9.5) (1.65) N/A N/A
2023A 0.5 (9.8) (9.8) (1.54) N/A N/A
2024E N/A N/A N/A N/A N/A N/A
2025E N/A N/A N/A N/A N/A N/A




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