Trinity Delta view: Prioritisation of the Therapeutics division continues, with Christina Coughlin’s appointment as CEO (having been on the Board since March 2022 and Head of R&D since February 2024). Once the Diagnostics division has been divested, Avacta will become a fully focused biotech company. This strategy is underpinned by the proprietary pre|CISION platform, and lead peptide drug conjugate AVA6000. Completion of the two-weekly safety study and progression into dose expansion cohorts during H224 will give some idea on the potential indication(s) that may be pursued by Avacta in a subsequent Phase II efficacy study. Current cash, including the £31.1m fundraise, provides a runway into early 2026 to advance the therapeutics pipeline, and should cover a number of value inflection points in AVA6000’s development. Our valuation and forecasts are currently suspended (since the fundraise); our last published valuation was £672m (equivalent to 237p/share).
30 Apr 2024
Trinity Delta Lighthouse: Avacta
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Trinity Delta Lighthouse: Avacta
Avacta Group PLC (AVCT:LON) | 42.8 0 (-0.1%) | Mkt Cap: 153.5m
- Published:
30 Apr 2024 -
Author:
Franc Gregori | Lala Gregorek | Philippa Gardner -
Pages:
2
Trinity Delta view: Prioritisation of the Therapeutics division continues, with Christina Coughlin’s appointment as CEO (having been on the Board since March 2022 and Head of R&D since February 2024). Once the Diagnostics division has been divested, Avacta will become a fully focused biotech company. This strategy is underpinned by the proprietary pre|CISION platform, and lead peptide drug conjugate AVA6000. Completion of the two-weekly safety study and progression into dose expansion cohorts during H224 will give some idea on the potential indication(s) that may be pursued by Avacta in a subsequent Phase II efficacy study. Current cash, including the £31.1m fundraise, provides a runway into early 2026 to advance the therapeutics pipeline, and should cover a number of value inflection points in AVA6000’s development. Our valuation and forecasts are currently suspended (since the fundraise); our last published valuation was £672m (equivalent to 237p/share).