Currency in CHF
Last close As at 09/06/2023
CHF0.01
— 0.00 (−8.33%)
Market capitalisation
CHF15m
Research: Healthcare
Kinarus has reported that its preclinical data on lead candidate KIN001 have shown strong antiviral efficacy against SARS-CoV-2 Omicron subvariants BA.2 and BA.5, which account for about a quarter of US COVID-19 infections. This builds on previously reported in vitro data, indicative of robust antiviral efficacy of equal potency against the original SARS-CoV-2 strain and other variants of concern, including Delta. We view this development as continued validation of KIN001’s mechanism of action involving antiviral, anti-inflammatory and anti-fibrotic activity, as well as its ‘variant-agnostic’ level of activity against SARS-CoV-2. We highlight that other SARS-CoV-2 variants are emerging, including the Omicron BQ subvariants, and KIN001’s effectiveness to date against multiple variants suggests it may also maintain potency against BQ and other future (sub)variants as well.
Kinarus Therapeutics |
Antiviral activity against Omicron BA.2 and BA.5 |
Preclinical data |
Pharma and biotech |
7 December 2022 |
Share price performance Business description
Analysts
Kinarus Therapeutics is a research client of Edison Investment Research Limited |
Kinarus has reported that its preclinical data on lead candidate KIN001 have shown strong antiviral efficacy against SARS-CoV-2 Omicron subvariants BA.2 and BA.5, which account for about a quarter of US COVID-19 infections. This builds on previously reported in vitro data, indicative of robust antiviral efficacy of equal potency against the original SARS-CoV-2 strain and other variants of concern, including Delta. We view this development as continued validation of KIN001’s mechanism of action involving antiviral, anti-inflammatory and anti-fibrotic activity, as well as its ‘variant-agnostic’ level of activity against SARS-CoV-2. We highlight that other SARS-CoV-2 variants are emerging, including the Omicron BQ subvariants, and KIN001’s effectiveness to date against multiple variants suggests it may also maintain potency against BQ and other future (sub)variants as well.
Year end |
Revenue (CHFm) |
PBT (CHFm) |
EPS |
DPS |
P/E |
Yield |
12/20 |
0.0 |
(1.5) |
(0.31) |
0.00 |
N/A |
N/A |
12/21 |
0.0 |
(4.9) |
(0.00) |
0.00 |
N/A |
N/A |
Note: 2020 accounts reflect statements of privately held Kinarus AG and 2021 statements represent pro forma financials of Kinarus Therapeutics AG following the reverse merger transaction with Perfect Holding.
The company has attributed KIN001’s effectiveness across multiple variants to its ability to target the human host cell pathways required for SARS-CoV-2 viral replication, rather than targeting the virus itself (which helps distinguish KIN001 from antiviral or monoclonal antibody therapies).
In August, Kinarus announced the launch of the KINFAST clinical Phase II trial of KIN001 in ambulatory COVID-19 patients. It will determine if KIN001 is able to reduce the severity and duration of COVID-19 symptoms. KINFAST aims to recruit c 400 patients across multiple sites in Switzerland and Germany. Interim data are expected after the enrolment of c 140 patients. Most COVID-19 patients do not progress to hospitalisation and the purpose of KINFAST is to show a reduced time to recovery and a reduction in disease severity progression in mild to moderate symptomatic COVID-19 patients.
The company continues to explore additional financing and partnering options to support the advancement of KIN001 into Phase II trials in its lead indication, wet age-related macular degeneration (AMD), as well as in idiopathic pulmonary fibrosis. KIN001 is unique among drug candidates for wet AMD in that it is designed to be used as an oral therapy complementing current injectable anti-VEGF agents, with the objective to potentially improve treatment efficacy and reduce the frequency of required eye injections.
Preclinical data suggest there is a potential benefit for KIN001 in reducing choroidal neovascularisation lesions. Kinarus has already received regulatory approval to conduct a one-year Phase II wet AMD clinical study in Switzerland and Germany and is awaiting funding before advancing this study.
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Research: Real Estate
Positive leasing activity and rental growth drove Picton Property Income’s H123 income returns, softening the impact of weaker market-wide property values and continuing its long track record of property outperformance versus the index. Significant opportunities for further growth in income and fully covered DPS are protected by 95% of drawn debt being fixed rate. Low gearing provides protection against further weakness in property values and NAV.
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