SECTOR: HEALTHCARE; RENEWABLE ENERGY
MOTIF BIO
(MTFB.L)
SECTOR – HEALTHCARE
RATING – BUY*
MARKET CAP – £94m
CURRENT PRICE – 32p#
ANALYST: VADIM ALEXANDRE
Year-end Dec
2016A
2017A
2018E
2019E
Revenue (£m)
-
-
EBITDA (£m)
(39.71)
(38.02)
Adj. pre-tax Profit (£m)
(40.32)
(44.79)
Adj. EPS (p)
(34.60)
(19.35)
Under
review
DPS (p)
-
-
Net Cash/(Debt) (£m)
15.53
(4.53)
P/E (x)
-
-
Dividend yield (%)
-
-
EV/EBITDA (x)
-
-
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Joint Broker to Motif Bio and therefore this information should be viewed as a Marketing Communication.
Iclaprim data presented at the ASM 2018 Conference
NORTHLAND VIEW
- Motif Bio announced that pooled efficacy and safety data from its two successful Phase 3 trials testing iclaprim, its lead antibiotic drug candidate, in patients with acute bacterial skin and skin structure infections (ABSSSI), was presented at the American Society of Microbiology (ASM) Microbe 2018 meeting in Atlanta, USA.
- The pooled data demonstrated that iclaprim was non-inferior to vancomycin, the current standard-of-care antibiotic for ABSSSI, and was well tolerated in this patient population. The data has been published in the peer-reviewed journal, International Journal of Antimicrobial Agents.
- Gary Hock Professor of Duke University and a principal investigator in the REVIVE-2 trial commented, “Iclaprim, if approved, may offer advantages over standard of care antibiotics in hospitalised ABSSSI patients, particularly those with renal impairment and/or diabetes."
The American Society for Microbiology is the largest single life science society, composed of over 50,000 scientists and health professionals. The ASM 2018 Conference presented an additional opportunity for the Company to share its trial data for iclaprim to an expert scientific and clinical audience. In early Q2 2018, Motif initiated an NDA rolling submission with the FDA, regarding the use of iclaprim for ABSSSI in the US, and we expect an approval decision before the end of Q1 2019.
COMPANY DESCRIPTION
Clinical stage biopharmaceutical company specialising in the development of novel antibiotics.
ACTIVE ENERGY GROUP (LON:AEG)
SECTOR – RENEWABLE ENERGY
RATING – CORP*
MARKET CAP – £35.4m
CURRENT PRICE – 3.6p#
ANALYST – MIKE JEREMY
Year-end Dec
2015
2016
Revenue (US$m)
24.38
19.20
No forecasts provided
EBITDA (adj) (US$m)
(1.63)
1.27
Adj. pre-tax Profit (US$m)
(3.39)
(0.95)
Adj. EPS (US$c)
(0.65)
(0.13)
DPS ($c)
-
-
Net Cash/(Debt) (US$m)
(6.79)
(5.52)
P/E (x)
-
-
Dividend yield (%)
-
-
EV/EBITDA (x)
-
41.5
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited Acts as Nomad to Active Energy Group and therefore this information should be viewed as a Marketing Communication.
MoU with Young Living Farm for PeatSwitch™ technology
NORTHLAND VIEW
- Active Energy has signed a Memorandum of Understanding with Young Living Farms (YLF) for the proposed purchase and construction of YLF’s first Biomass Beneficiation facility using AEG’s PeatSwitch™ technology to produce an organic, environmentally-friendly peat replacement, for its Mona, Utah, farm. YLF intends to pay US$3.4m in cash for the facility, in four instalments. The plant is expected to be operational by year-end, and YLF will assess the feasibility of additional plants for its other facilities.
- The plant will use waste by-product from YLF's essential oil production and release water, currently an issue in YLF’s processes, whilst the PeatSwitch™ process will yield a soil amendment product to be reintroduced into YLF's crop production cycle. An EPC contractor is now in place to manage the Utah facility for both parties, with engineering work about to commence.
This announcement represents practical development of the agreement with YLF announced on 28th February to supply 6,500 tonnes of soil amendment product using waste from YLF’s processes based on AEG’s CoalSwitch™ technology, and plans for the facility in Mona and three possible locations in the US and Canada.
Established in 1994 and based in Lehi, Utah, Young Living Farms – see: www.youngliving.com – cultivates herbs such as lavender, peppermint, melissa and sage for the production of essential oils, and promotes wellness therapy through a network of organic farms in USA, Canada, S. America, Australia, Europe and Japan. With 3,000 employees active in 22 markets, YLF reported 2017 revenue of over US$1.5b.
COMPANY DESCRIPTION
Active Energy Group (AEG) is an international, vertically-integrated forestry management and renewable resource energy provider. The group combines management of forestry resources with the commercial development of a proprietary solution (CoalSwitch™) to the integration of wood-based (biomass) fuel into existing coal-fired thermal power plants.
SECTOR – HEALTHCARE
RATING – BUY*
MARKET CAP – £23.6m
CURRENT PRICE – 25.3p#
TARGET PRICE – 113p
ANALYST – VADIM ALEXANDRE
Year-end Dec
2017A
2018E
2019E
2020E
Revenue (£m)
-
-
-
7.50
EBITDA (£m)
(3.64)
(3.49)
(4.49)
3.92
Adj. pre-tax Profit (£m)
(3.64)
(3.49)
(4.42)
3.90
Adj. EPS (p)
(4.19)
(2.81)
(3.34)
4.27
DPS (p)
-
-
-
-
Net Cash/(Debt) (£m)
3.91
3.24
(0.54)
3.95