Avacta continues its transition into a pure-play therapeutics company to advance its pre|CISION-enabled peptide-drug conjugate platform. The expanding pipeline has the potential to improve the therapeutic index of many highly potent yet systemically toxic oncology drugs. Progress has been tangible with early efficacy and safety data from the Phase Ia salivary gland cancer (SGC) dose escalation cohort of lead asset AVA6000 (FAP-Dox), and confirmation of dosing and ongoing enrolment into Phase Ib expansion cohorts. Candidate selection for a second pre|CISION programme has completed, with AVA6103 (FAP-EXd) on track to enter the clinic in early-2026. The disposal of Launch Diagnostics for £12.9m sharpens the therapeutics focus, broadening Avacta’s appeal to global specialist healthcare investors, and extends the cash runway into Q126. Further progress and positive clinical data over the next 24 months should provide multiple value inflection points. Our updated Avacta valuation is increased slightly to £449m/$561m, or 119p/share.
