Recce Pharma

Recce Pharmaceuticals (ASX: RCE)

Currency in AUD

Last close As at 27/09/2023


−0.04 (−7.84%)

Market capitalisation


Recce Pharmaceuticals is an Australian company developing its novel, broad-spectrum synthetic polymer anti-infective drugs for the treatment of several infectious diseases, including sepsis (Phase II-ready), burn wound infections (Phase I/II) and urinary tract infections.

The WHO estimates that sepsis leads to c 11 million deaths each year. Sepsis affects 1.7 million people in the United States annually and has been reported as the country’s most expensive condition in aggregate to treat in the hospital, costing the healthcare system US$57bn in inpatient costs. We view significant opportunities for treatments that may reduce morbidity or hospital utilisation. Recce had a gross cash balance of A$1.6m at the end of June and is seeking to raise A$12–15m.

Latest Insights

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Healthcare | Update

Recce Pharmaceuticals — Gearing up for more R327 studies

Healthcare | Initiation

Recce Pharmaceuticals — Seeking a breakthrough in sepsis

Healthcare | edison tv

Recce Pharmaceuticals – executive interview

Team of Research Scientists Working On Computer, with Medical Equipment, Analyzing Blood and Genetic Material Samples with Special Machines in the Modern Laboratory.



Equity Analyst

Pooya Hemami

Analyst - Healthcare

Key Management

  • James Graham


  • Daniel Astudillo

    Head of marketing

  • Dr John Prendergast


Balance Sheet

Forecast net debt (A$m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual (31.9) (16.8) (27.7)
Relative (31.0) (16.5) (33.4)
52 week high/low A$0.8/A$0.5


Recce Pharmaceuticals is a clinical-stage, Australian biotech company developing a novel class of broad-spectrum synthetic anti-infective drugs to which, so far, all tested bacteria have been unable to develop resistance. This could be a very desirable trait given widespread concerns about antimicrobial resistance. The lead indication for RECCE 327 (R327), is sepsis (Phase I/II study underway), a substantial area of unmet need with significant mortality and high costs of care. Recce is also assessing its intravenous formulation in other indications, such as complicated urinary tract infections. Topical spray and gel formulations of R327 are also being assessed for burn wound infections and diabetic foot infections.

Y/E Dec Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2021A 1.9 (13.3) (13.5) (8.70) N/A N/A
2022A 3.1 (10.9) (11.0) (6.31) N/A N/A
2023E 6.2 (12.3) (12.4) (7.01) N/A N/A
2024E 4.6 (36.3) (36.5) (20.48) N/A N/A




ASCO 2023 key takeaways



Machine learning in drug development

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