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Recce Pharma

Recce Pharmaceuticals (ASX: RCE)

Last close As at 17/04/2024

AUD0.55

▲ 0.06 (11.11%)

Market capitalisation

AUD113m

Recce Pharmaceuticals is an Australian company developing its novel, broad-spectrum synthetic polymer anti-infective drugs for the treatment of several infectious diseases, including sepsis (Phase II-ready), burn wound infections (Phase I/II) and urinary tract infections.

The WHO estimates that sepsis leads to c 11 million deaths each year. Sepsis affects 1.7 million people in the United States annually and costs the healthcare system US$57bn in inpatient costs. In our view there are significant opportunities for treatments that may reduce morbidity or hospital utilisation. Recce had a gross cash balance of A$4.0m at 31 December, which we estimate provides an operating runway into Q2 CY24.

Latest Insights

View More

Healthcare | Update

Recce Pharmaceuticals — R&D advance (A$11.18m) extends runway

Healthcare | Update

Recce Pharmaceuticals — Supportive advancements on the pipeline

Healthcare | Flash note

Recce Pharmaceuticals — Landmark commitment helps fund R&D costs

Healthcare | Update

Recce Pharmaceuticals — R327 continues to progress in clinical trials
Team of Research Scientists Working On Computer, with Medical Equipment, Analyzing Blood and Genetic Material Samples with Special Machines in the Modern Laboratory.
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Sector

Healthcare

Equity Analyst

Pooya Hemami

Analyst - Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Arron Aatkar

Associate analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Key Management

  • James Graham

    CEO

  • Daniel Astudillo

    Head of marketing

  • Dr John Prendergast

    Chairman

Balance Sheet

Forecast net debt (A$m)

8.7

Forecast gearing ratio (%)

86

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 25.0 14.6 (20.9)
Relative 26.0 11.4 (23.9)
52 week high/low A$0.7/A$0.4

Financials

Recce Pharmaceuticals is a clinical-stage, Australian biotech company developing a novel class of broad-spectrum synthetic anti-infective drugs to which, so far, all tested bacteria have been unable to develop resistance. This would be a very desirable trait given widespread concerns about antimicrobial resistance. The lead indication for RECCE 327 (R327) is sepsis (Phase I/II study underway), a substantial area of unmet need with significant mortality and high costs of care. Recce is also assessing its intravenous formulation in complicated urinary tract infections. Topical spray and gel formulations of R327 are also being evaluated for burn wound infections and diabetic foot infections.

Y/E Dec Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 3.1 (10.9) (11.0) (6.31) N/A N/A
2023A 4.3 (12.8) (13.1) (7.55) N/A N/A
2024E 5.8 (17.2) (18.1) (9.45) N/A N/A
2025E 6.7 (52.5) (58.4) (28.69) N/A N/A

Research

Update

Healthcare

Recce Pharmaceuticals — Supportive advancements on the pipeline
Team of Research Scientists Working On Computer, with Medical Equipment, Analyzing Blood and Genetic Material Samples with Special Machines in the Modern Laboratory.

Flash note

Healthcare

Recce Pharmaceuticals — Landmark commitment helps fund R&D costs

Healthcare

Update

Recce Pharmaceuticals — R&D advance (A$11.18m) extends runway

Thematics

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