Last close As at 05/08/2026
SEK1.39
▲ −0.01 (−0.43%)
Market capitalisation
SEK197m
Research: Healthcare
IRLAB has been granted a new patent for its Phase IIb asset, pirepemat, extending the predicted patent life of the drug to 2038 (previous composition of matter patents would have expired by 2035). This patent covers a new salt of the active pharmaceutical ingredient, as well as the process for its preparation, and applies to the important markets of Europe, Japan and China. Pirepemat is a key drug in the company’s pipeline, which targets postural dysfunction (impaired balance) and falls in Parkinson’s disease (PD-Falls), an area with no approved curative treatments. PD-related falls affect c 45% of the patient population and have been linked to cognitive decline in PD. A Phase IIb trial evaluating the efficacy of pirepemat on the frequency of falls in patients with PD is expected to read out in H124, which we see as a major near-term catalyst for the company.
Written by
IRLAB Therapeutics |
Increased legroom for pirepemat with new patent |
Regulatory update |
Pharma and biotech |
13 December 2023 |
Share price performance
Business description
Analysts
IRLAB Therapeutics is a research client of Edison Investment Research Limited |
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IRLAB has been granted a new patent for its Phase IIb asset, pirepemat, extending the predicted patent life of the drug to 2038 (previous composition of matter patents would have expired by 2035). This patent covers a new salt of the active pharmaceutical ingredient, as well as the process for its preparation, and applies to the important markets of Europe, Japan and China. Pirepemat is a key drug in the company’s pipeline, which targets postural dysfunction (impaired balance) and falls in Parkinson’s disease (PD-Falls), an area with no approved curative treatments. PD-related falls affect c 45% of the patient population and have been linked to cognitive decline in PD. A Phase IIb trial evaluating the efficacy of pirepemat on the frequency of falls in patients with PD is expected to read out in H124, which we see as a major near-term catalyst for the company.
Year end |
Revenue (SEKm) |
PBT* |
EPS* |
DPS |
P/E |
Yield |
12/21 |
207.9 |
91.1 |
1.76 |
0.0 |
3.8 |
N/A |
12/22 |
61.3 |
(113.1) |
(2.18) |
0.0 |
N/A |
N/A |
12/23e |
7.2 |
(184.0) |
(3.55) |
0.0 |
N/A |
N/A |
12/24e |
0.2 |
(202.5) |
(3.90) |
0.0 |
N/A |
N/A |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
Pirepemat is a first-in-class oral small-molecule drug being developed for the treatment of postural dysfunction and falls in PD. The current gold-standard treatment for PD, levodopa, has limited beneficial effect on the risk of falls in the target patient population, highlighting the significant unmet need in this space. Pirepemat is a product of IRLAB’s ISP research platform, and is wholly owned by the company, with composition of matter patents covering all major markets globally (2035 expiration in the US and 2034 in Europe and Japan). The latest patent grant (which was filed for approval in 2018) relates to a new salt of pirepemat and the process for its preparation, and IRLAB expects it to extend the drug’s patent protection to 2038 (which may be further extended into the early 2040s with supplementary protection certificates or patent term extension). In addition to the above, pirepemat’s classification as a new chemical entity provides it with at least 10 years of market exclusivity post approval in Europe and five years in the US.
The drug is currently undergoing a Phase IIb clinical trial, initiated in Q122. The study is a randomised, placebo-controlled, multi-centre Phase IIb study, recruiting 165 patients across 38 centres in France, Poland, Spain, Sweden, Germany and the Netherlands. The patients will be randomised across three arms – placebo, pirepemat 300mg and pirepemat 600mg. In July 2023, IRLAB shared the outcome of an interim safety review of the study (on the initial 25 patients completing treatment) from the independent data and safety monitoring board, which recommended continuing the trial without any modifications, an encouraging sign for the study design, in our view. Management expects patient recruitment to be completed in Q124, followed by top-line readouts, which we anticipate in Q224. We see this event as a major upcoming catalyst for IRLAB.
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Research: TMT
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