Last close As at 05/08/2026
CHF12.26
▲ 0.44 (3.72%)
Market capitalisation
CHF256m
Research: Healthcare
Newron hosted an investor day (25 June) featuring three key opinion leaders (KOLs) who highlighted evenamide’s unique mechanism at the site of pathology, offering durable responses and addressing unmet need despite the >40 available treatments for schizophrenia. Evenamide has a robust track record in clinical studies to date. Notably, the results of study 015 in treatment-resistant schizophrenia (TRS) saw 25% of patients achieve remission, and, more recently, the results from study 008A (poorly managed schizophrenia) confirmed the safety of evenamide as an add-on to current antipsychotics, as well as its effectiveness in a randomised, placebo-controlled setting. The KOLs commented on the potential benefit from earlier use of evenamide in patients with inadequate responses to current treatments. The reported data to date provide a strong foundation in addressing schizophrenia, in our view. Newron will prepare for the registrational trial (study 017), which, subject to securing a partnership deal, could launch by end-2024.
Written by
Newron Pharmaceuticals |
Evenamide road to registration and beyond |
2024 investor day |
Pharma and biotech |
26 June 2024 |
Share price performance
Business description
Analysts
Newron Pharmaceuticals is a research client of Edison Investment Research Limited |
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Newron hosted an investor day (25 June) featuring three key opinion leaders (KOLs) who highlighted evenamide’s unique mechanism at the site of pathology, offering durable responses and addressing unmet need despite the >40 available treatments for schizophrenia. Evenamide has a robust track record in clinical studies to date. Notably, the results of study 015 in treatment-resistant schizophrenia (TRS) saw 25% of patients achieve remission, and, more recently, the results from study 008A (poorly managed schizophrenia) confirmed the safety of evenamide as an add-on to current antipsychotics, as well as its effectiveness in a randomised, placebo-controlled setting. The KOLs commented on the potential benefit from earlier use of evenamide in patients with inadequate responses to current treatments. The reported data to date provide a strong foundation in addressing schizophrenia, in our view. Newron will prepare for the registrational trial (study 017), which, subject to securing a partnership deal, could launch by end-2024.
Year end |
Revenue (€m) |
PBT* |
EPS* |
DPS |
P/E |
Yield |
12/22 |
6.09 |
(16.99) |
(0.95) |
0.0 |
N/A |
N/A |
12/23 |
9.06 |
(16.00) |
(0.90) |
0.0 |
N/A |
N/A |
12/24e |
24.33 |
(2.6) |
(0.14) |
0.0 |
N/A |
N/A |
12/25e |
27.06 |
(0.8) |
(0.04) |
0.0 |
N/A |
N/A |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
Historically, schizophrenia has been treated with typical (D2 receptor inhibitors) and atypical (target 5-HT2A receptors) antipsychotics, and while these can be effective for positive symptoms, they have limited efficacy against negative and cognitive symptoms. The investor day recapped evenamide’s unique mechanism of action as a voltage-gated sodium channel blocker and modulator of post-synaptic glutamate release. Evenamide was designed to reduce hippocampal dopaminergic activity, improve symptoms of psychosis, and improve social interactions and cognition, a mechanism endorsed by the KOLs, who commented on the potential of the drug to address schizophrenia by acting at the site of pathology.
The results from study 008A (April/May 2024) showed that the primary endpoint of improvement on the Positive and Negative Syndrome Scale (PANSS) score from baseline was met (reduction in PANSS total score of 10.2 points, vs 7.6 points with placebo). The results of study 015 (January 2024) showed that >70% of patients experienced a clinically meaningful reduction in condition severity and c 25% achieved remission, the first demonstration of this in TRS, to our knowledge. A KOL highlighted that one-third of schizophrenia patients are treatment-resistant, and the only available drug (clozapine) is used in less than 5% of cases. Further, higher doses, the addition of another antipsychotic or switching to another drug is often unsuccessful in TRS patients. Since sustained benefits across all measures is uncommon in TRS, study 017 will aim to confirm the durable efficacy of evenamide.
Management reaffirmed its plans for the randomised, double-blind, registrational trial (study 017), which will compare evenamide to placebo as an add-on treatment in at least 400 TRS patients. The primary endpoint will be the change from baseline in PANSS scores at week 12. This will be followed by a continuation to week 26 and to one year to evaluate long-term safety.
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Research: Investment Companies
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