TheraCryf | 1H26 - Good progress on Ox-1; results as expected
TheraCryf's 1HFY26 results to September, confirm that the company is making strong progress towards clinical readiness for its Ox-1 lead clinical asset and the results were in line with expectations. There was a modest cash burn in the half of £0.7m, with cash and net cash ending the period at £3.5m. TheraCryf reiterated that it is funded through to the end of calendar 2026 when Ox-1 should be ready for clinical trials in humans, a key value inflection point. TheraCryf's valuation remains nugatory in relation to peers and particularly in relation to pharma deals for Central Nervous System (CNS) compounds which typically attract upfront payments c5x TheraCryf's current market capitalisation for pre-clinical assets rising to c9x at clinical readiness with overall deal valuation at over 70x and over 100x at pre-clinical and clinical transaction points respectively.Evgen Pharma is a clinical stage drug development company. Co.'s pipeline is based on its proprietary Sulforadex® technology, and includes a number of synthetic, stabilised analogues of the naturally occurring compound sulforaphane.
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