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).
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
Market Cap: £437.38 m
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