Currency in EUR
Last close As at 02/06/2023
EUR2.06
▲ 0.01 (0.49%)
Market capitalisation
EUR119m
Research: Healthcare
Oryzon has been awarded a Cooperative Research and Development Agreement (CRADA) with the US National Cancer Institute (NCI) to develop its lead oncology asset, iadademstat. We believe the selection in this highly competitive process provides financial and reputational benefits. This follows positive readouts from the ongoing ALICE study in first-line acute myeloid leukaemia (AML). Oryzon plans to initiate the key follow-on FRIDA study in second line AML in H222. Management also plans to investigate iadademstat in first-line small cell lung cancer (SCLC).
Oryzon Genomics |
CRADA win to provide a halo effect |
Q222 update |
Pharma and biotech |
19 July 2022 |
Share price performance Business description
Analysts
Oryzon Genomics is a research client of Edison Investment Research Limited |
Oryzon has been awarded a Cooperative Research and Development Agreement (CRADA) with the US National Cancer Institute (NCI) to develop its lead oncology asset, iadademstat. We believe the selection in this highly competitive process provides financial and reputational benefits. This follows positive readouts from the ongoing ALICE study in first-line acute myeloid leukaemia (AML). Oryzon plans to initiate the key follow-on FRIDA study in second line AML in H222. Management also plans to investigate iadademstat in first-line small cell lung cancer (SCLC).
Year end |
Revenue |
PBT* (€m) |
EPS* |
DPS |
P/E |
Yield |
12/20 |
9.5 |
(4.8) |
(0.07) |
0.0 |
N/A |
N/A |
12/21 |
10.6 |
(7.2) |
(0.09) |
0.0 |
N/A |
N/A |
12/22e |
9.9 |
(7.0) |
(0.10) |
0.0 |
N/A |
N/A |
12/23e |
9.9 |
(7.3) |
(0.10) |
0.0 |
N/A |
N/A |
Note: *Normalised, excluding amortisation of acquired intangibles and exceptional items.
In our view, the award of a CRADA represents a significant scientific milestone for iadademstat, opening a diverse clinical network with renowned investigators as well as anticipated clinical trial funding and broad-based recognition in a competitive market. The collaborative mechanism of the contract allows oncology investigators across the National Institutes of Health, universities and local government institutions to compete for selection to develop iadademstat in pre-clinical and clinical settings. We believe this is likely beneficial in obtaining clinical success. Oryzon will retain control over the developmental direction of iadademstat with all applications subject to review by the company. The CRADA designation could enhance visibility of iadademstat within the clinical community and may bolster the potential to foster meaningful partnerships.
This designation also brings potentially substantial resourcing benefits, providing facilities and personnel to reduce overall developmental costs, although no specific quantification of the financial impact or benefits has been provided. The NCI may also provide governmental funding for future clinical studies in new indications with investigational research groups, expediting access to market.
As well as long-term research collaborations, the contract also facilitates the ability for iadademstat to be investigated in combination with other therapeutics that have been accepted as a part of the NCI formulary, which consists of marketed and investigational drugs. Combinations are the cornerstone of cancer therapy. We believe this designation provides a critical platform to investigate new combination therapies, which without a CRADA contract are often difficult to pursue.
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Research: TMT
Esker reported Q222 revenue growth of 19% y-o-y (12% in constant currency), driven by 23% growth in SaaS revenues. Bookings intake was strong, with the annual recurring value (ARR) of bookings up 25% y-o-y. Despite the worsening economic environment, management maintained its outlook for FY22. A diverse customer base, the high level of recurring revenue, inflation-linked contracts and a strong balance sheet should mitigate the impact of rising inflation and interest rates.
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