Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on NOVOGEN LTD. We currently have 4 research reports from 1 professional analysts.
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Acquires mid-stage cancer drug from Genentech
31 Oct 16
Novogen has in-licensed global rights to the Phase II-ready drug GDC-0084 from Genentech. GDC-0084 is designed to treat brain cancers, including the rapidly fatal glioblastoma (GBM). Novogen plans to initiate a Phase II trial in GBM next year and positive trial results could allow filing for accelerated approval in 2020. The transaction will complement Novogen’s preclinical assets and Cantrixil, which will enter Phase I in ovarian cancer in Q416. Our valuation of Novogen’s existing programme is unchanged at A$112m (A$0.26/share). We value GDC-0084 under two different scenarios at A$11-54m, after accounting for A$35m of anticipated clinical trial costs.
Cantrixil to enter clinic in H216
11 May 16
Novogen has unwound its CanTx JV with Yale and resumed 100% ownership of its lead superbenzopyran Cantrixil, as it prepares to enter the clinic in ovarian cancer patients in Q416. Separately, its anti-tropomyosin (ATM) drug Anisina, which shows strong synergy with standard-of-care anti-mitotic drugs, is scheduled to enter the clinic in H216 or H117 (pending successful completion of toxicology studies). With $29m cash, we believe that Novogen is funded through FY18. Our valuation is virtually unchanged at $86m (vs $87m), with the benefit of resuming 100% ownership of Cantrixil offset by higher forecast G&A expenses.
Sharper focus on anti-cancer drugs
19 Oct 15
Novogen has prioritised development of its three lead anti-cancer drugs following a scientific review. Cantrixil is scheduled to enter the clinic in H116 and Anisina in H216 (both pending successful completion of toxicology studies). We have trimmed our valuation model, removing the prostate cancer indication for Trilexium, as it is not expected to enter the clinic until 2017, which reduces our valuation to $87m (vs $126m) or $5.13 per ADR (undiluted). With $32m cash, Novogen is funded beyond FY18.
Promising anti-cancer drugs head to the clinic
13 Jul 15
Novogen is developing two groups of anti-cancer compounds that have shown a great deal of promise in preclinical studies. Its super-benzopyran drugs are highly potent against cancer stem cells that are resistant to standard chemotherapy drugs, both in vitro and in animal models. Its lead anti-tropomyosin dug, Anisina, shows strong synergy with standard-ofcare anti-mitotic vinca alkaloid drugs. The company is well-funded, having raised ~$26m in the past two months, and is on track to have its three lead anti-cancer drugs in clinical trials by mid-2016. Its base case valuation is $126m, or $7.45 per ADR (undiluted).
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
27 Mar 17
Elecosoft* (ELCO): Steadily building profits (CORP) | Bioventix* (BVXP): Interim results lead to upgrades (CORP) | Hurricane Energy (HUR): Halifax discovery (BUY) | KBT Business Technology* (KBT): interims and contract win (CORP) | Independent Oil & Gas* (IOG): Licence updates (CORP)
Interim results lead to upgrades
27 Mar 17
Bioventix reported a strong set of interim results with revenues increasing by 32% (c.12-17% at constant exchange rates (CER)), driven largely by the continued roll-out of its customers’ Vitamin D assay products. This, in turn, led to a 41% increase in pre-tax profits and a 40% increase in adjusted EPS; which is reflective of the operational gearing of the business. We are upgrading our adjusted EPS to 78.7p (+5%) and, consequently, are raising our target price to 1750p. At this price level, the shares would trade on a 22.4x FY 2018 P/E and an EV/EBITDA of 17x. We await confirmation of Siemen’s high sensitivity troponin assay launch, expected in FY 2018.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
Sinclair Pharma - Aesthetically Positioned to Continue Double-Digit Growth
23 Mar 17
With an innovative and differentiated product portfolio of injectable devices addressing the fast-growing aesthetics market, Sinclair is best positioned to continue to achieve double-digit revenue growth in the medium term.
N+1 Singer - Futura Medical - Licensing deal for CSD500 in Portugal
22 Mar 17
The agreement with F Lima further extends the market reach of CSD500, Futura’s erectogenic condom, and brings the total number of distribution partners to eight. The deal is in line with the company’s stated strategy of partnering with leading regional players in the consumer products space. We expect the condom to be launched in Portugal later this year. We retain a positive stance.