Actinogen Medical (ASX: ACW)

Last close As at 19/04/2024

AUD0.03

0.00 (3.45%)

Market capitalisation

AUD70m

Actinogen Medical is an ASX-listed Australian biotech developing its lead asset Xanamem, a specific and selective 11beta-HSD1 inhibitor designed to treat cognitive impairment (CI), which occurs in chronic neurodegenerative and neuropsychiatric diseases.

The unmet need in chronic neurocognitive disorders is tremendous due to the limited effectiveness of available treatment options. The Phase IIb portion of the XanaMIA trial will be key for validating the encouraging Xanamem data shown to date. The XanaCIDD study may also validate the drug’s potential for treating CI related to major depressive disorder.

Latest Insights

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Healthcare | Update

Actinogen Medical — Pressing forward with Xanamem

Actinogen Medical

Sector

Healthcare

Equity Analyst

Pooya Hemami

Analyst - Healthcare

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Arron Aatkar

Associate analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • Dr Steven Gourlay

    CEO and MD

  • Michael Roberts

    Head of investor relations

Balance Sheet

Forecast net debt (A$m)

1.9

Forecast gearing ratio (%)

27

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (3.2) 25.0 (52.7)
Relative (2.9) 19.9 (54.7)
52 week high/low A$0.1/A$0.0

Financials

Actinogen Medical announced that the first randomised patient in its Phase IIb XanaMIA trial of lead candidate Xanamem received their first treatment on Friday 12 April. This study is designed to enrol c 220 patients with cognitive impairment (CI) associated with biomarker-positive mild-to-moderate Alzheimer’s disease (AD), as confirmed through an elevated level of phosphorylated Tau-181 (pTau-181) protein in their blood at baseline. The study has commenced at 13 Australian sites and will concentrate on domestic sites for the first c 100 patients, and initial efficacy and safety results will be analysed when these patients reach 24 weeks of treatment. These results are now expected in mid-CY25 (vs prior guidance of H1 CY25) and Actinogen expects to expand the trial to US study sites following this interim readout. In the near term, the next material milestone for the company will be results, now expected in early Q3 CY24 (vs Q2 CY24 previously), from its Phase IIa XanaCIDD study in patients with CI and major depressive disorder (MDD).

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 3.6 (9.1) (7.9) (0.460) N/A N/A
2023A 4.9 (10.6) (8.9) (0.494) N/A N/A
2024E 7.7 (16.5) (15.8) (0.763) N/A N/A
2025E 20.3 (35.2) (37.9) (1.628) N/A N/A

Thematics

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