Last close As at 05/08/2026
SEK1.39
▲ −0.01 (−0.43%)
Market capitalisation
SEK197m
Research: Healthcare
IRLAB Therapeutics’ Q122 report recapped many of the research and development highlights shared on the company’s inaugural capital markets day in March, including Phase IIb/III clinical trial for lead asset mesdopetam, for the treatment of levodopa induced dyskinesias (LIDS) in Parkinson’s disease (PD) through a partnership with Ipsen and Phase IIb clinical trials for pirepemat in the prevention of falls in PD. Management continues to demonstrate the value of its Innovative Screening Platform (ISP). In the quarter, IRL757 was nominated as a new preclinical candidate that IRLAB will investigate as a potential treatment for apathy. IRL757 joins IRL942 (a potential cognitive function modulator) in the preclinical pipeline. Both are expected to begin Phase I trials in 2023. We are reviewing our forecasts.
Written by
IRLAB Therapeutics |
Screening platform continues to bear fruit |
Q1 results |
Pharma and biotech |
13 May 2022 |
Share price performance
Business description
Analysts
IRLAB Therapeutics is a research client of Edison Investment Research Limited |
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IRLAB Therapeutics’ Q122 report recapped many of the research and development highlights shared on the company’s inaugural capital markets day in March, including Phase IIb/III clinical trial for lead asset mesdopetam, for the treatment of levodopa induced dyskinesias (LIDS) in Parkinson’s disease (PD) through a partnership with Ipsen and Phase IIb clinical trials for pirepemat in the prevention of falls in PD. Management continues to demonstrate the value of its Innovative Screening Platform (ISP). In the quarter, IRL757 was nominated as a new preclinical candidate that IRLAB will investigate as a potential treatment for apathy. IRL757 joins IRL942 (a potential cognitive function modulator) in the preclinical pipeline. Both are expected to begin Phase I trials in 2023. We are reviewing our forecasts.
Year end |
Revenue (SEKm) |
PBT* (SEKm) |
EPS* |
DPS |
DPS |
Yield |
12/20 |
0.4 |
(91.7) |
(1.92) |
N/A |
N/A |
N/A |
12/21 |
207.8 |
52.0 |
1.00 |
N/A |
N/A |
N/A |
Note: *Reported.
IRLAB emphasised its efforts to expand its clinical pipeline in its Q122 report. The nomination of IRL757 to pre-clinical candidate status represents yet another testament to IRLAB’s ISP discovery platform. The ISP is based on a unique combination of systems biology (phenotypic screening) and AI-based machine learning methods that leverage a database of animal model, pharmacokinetic, safety and biomarker data from around 1,400 compounds. We see the efficiency of the ISP in selecting new central nervous system (CNS) candidates as encouraging and highlight the potential for licensing this platform to other companies.
The newly nominated candidate, IRL757, will be investigated for treating apathy in CNS disorders. Apathy is a common symptom in most neurodegenerative disorders and the company asserts that 10 million patients in both the EU and US may be affected. We note there are currently no drugs approved for the treatment of apathy in CNS disorders. IRLAB intends to initiate Phase I trials for IRL757 in 2023. On the clinical side, IRLAB initiated a Phase IIb trial in Q1 with pirepemat, a prefrontal cortex enhancer, for the prevention of falls in PD; top-line data are expected in Q423. Additionally, mesdopetam continues through Phase IIb/III trials (partnered with Ipsen), for the treatment of LIDS in PD, with top-line results expected in H222.
Following revenue recognised from Ipsen in 2021, IRLAB held cash of SEK368m at end-March 2022 and we see this as funding operations past the expected pirepemat readout in Q423. We anticipate IRLAB will continue to use this position to drive aggressive pipeline investment in the near term.
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Research: TMT
Technicolor’s Q122 results show broadly flat group revenues (at constant exchange rates) with a good step up in EBITDA as the mix shifts towards higher-margin activities and the benefits of earlier cost control exercises come through more noticeably. Management FY22 guidance is confirmed, with our forecast adjusted for a small change in accounting treatment as previously flagged. The process of spinning off the majority of Technicolor Creative Studios to a separately quoted vehicle is on schedule for implementation in Q322, with a London capital markets day set for 14 June to showcase the two intended corporate entities. Debt refinancing is also progressing to plan.