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Avacta Group Plc - On track and undervalued

At the AGM of January 18th, Avacta reported good progress for both the Affimer therapeutic and reagents programs.

Their lead immuno-oncology development program is proceeding according to plan and multiple development milestones are expected in the course of 2018 (see next section for further details).

Executive summary

We look at Avacta using a SOTP approach that considers separately the therapeutic programs and the reagents business.
 
Essentially we work out "backwards" what the implied equity value should be today, assuming Affimer products reach certain commercial levels ten years from now

Quick facts: Avacta Group PLC

Price: 174.5 GBX

AIM:AVCT
Market: AIM
Market Cap: £437.38 m
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What's in the report?

Financial results and forecasts
Growth drivers
Management
Market conditions
Milestones & inflection points

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