This (and the recent fundraise) leaves us confident that Avacta is on track to meet key development targets over the next 2-3 years. Their main therapeutic programs (in-house PD-L1/LAG3 bispecific Affimer and Affimer-drug conjugates co-developed with Tufts University) are on track to deliver key data points between 2019-2021.Full report is available via Capital Network website
KEY INVESTOR MESSAGES
- Faster than expected development of the second immuno-oncology (I-O) program, a LAG3 inhibitor, allows company to evolve its lead program into a more ambitious LAG3/PD-L1 bispecific aiming to enter the clinic in 2020
- Good progress of the ongoing external collaborations in two key areas: gene delivery (Moderna, OncoSec, FIT Biotech) and drug conjugates (Glythera)
- Expect further licensing deals for Affimer reagents, based on multiple on-going evaluations
- Stock price weakness reflects in our view uncertainty around a likely capital raise before year end rather than the company's strong fundamentals
Feraccru is a unique, non-salt, formulation oral iron: strong efficacy with “placebo-like” tolerability
Potential to change iron deficiency anaemia (IDA) therapeutic algorithm
Feraccru to become the preferred option for patients not adequately controlled or who are intolerant to generic oral iron supplements (before they switch to intravenous iron).
With an indication in Europe to treat iron deficiency, Feraccru’s use would prevent the occurrence/reoccurrence of iron deficiency anaemia
Feraccru European commercialisation expected to accelerate significantly following the licensing agreement with Norgine announced in September 2018
Key upcoming milestones: results of the head-to-head phase 3 study of Feraccru vs intravenous (i.v.) iron expected in first half (1H) of 2019; Feraccru PDUFA (Prescription Drug User Fee Act) date 27 July 2019
Current market capitalisation of about £40mln is by and large not reflecting Feraccru commercial potential
Avacta Group Plc (LON:AVACT) has recently finalised a co-development partnership with Boston-based Bach BioSciences, to exploit the potential of the Affimer platform for the development of a novel class of drug conjugates.