Molecure (WSE: MOC)

Currency in PLN

Last close As at 27/09/2023


−1.16 (−6.05%)

Market capitalisation


Molecure is a clinical-stage biotechnology company. It uses its medicinal chemistry and biology capabilities to discover and develop first-in-class small molecule drug candidates that directly modulate underexplored protein targets and the function of RNA designed to treat multiple incurable diseases.

There remain serious unmet medical needs in the treatment of inflammatory and fibrotic diseases such as sarcoidosis, idiopathic pulmonary fibrosis and non-alcoholic steatohepatitis. Additionally, there is a constant need for new, targeted cancer treatments. The development of drugs that act through novel mechanisms of action could address these problems.

Latest Insights

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Healthcare | Update

Molecure — Ramp-up in preparation for busy clinical year

Healthcare | Flash note

Molecure — OATD-01 gearing up for Phase II

Healthcare | edison tv

Molecure – executive interview with Marcin Szumowski, CEO




Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Key Management

  • Marcin Szumowski


  • Nicolas Beuzen

    Director of business development & licensing

  • Slawomir Broniarek


Balance Sheet

Forecast net debt (PLNm)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual (24.8) (16.6) 28.7
Relative (22.0) (10.5) (4.4)
52 week high/low 25.6gr/13.1gr


Molecure aims to discover and develop drugs that have novel mechanisms of action to address inflammation, fibrosis and oncology. The company’s two lead assets, OATD-01 (a chitotriosidase inhibitor) and OATD-02 (an ARG1/2 inhibitor), are approaching important clinical development milestones. In July 2023, the FDA accepted the company’s IND application for OATD-01, permitting the start of clinical studies in the United States. The Phase II trial in sarcoidosis is expected to commence in Q423; top-line results are expected in Q125. The company’s second clinical asset, OATD-02, began Phase I in solid tumour indications in Q123. In July 2023, Molecure secured (secondary) financing with a gross value of around PLN50m, which will be used to co-finance the company’s strategic plans for 2023–25.

Y/E Dec Revenue (PLNm) EBITDA (PLNm) PBT (PLNm) EPS (fd) (gr) P/E (x) P/CF (x)
2021A 1.5 (14.9) (13.6) (98.0) N/A N/A
2022A 1.6 (17.3) (15.3) (109.0) 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




ASCO 2023 key takeaways



Machine learning in drug development

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