Edison Investment Research - AROVELLA THERAPEUTICS LTD (ALA) Arovella Therapeutics - Refocused pipeline towards iNKT cell therapy

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Edison Investment Research

Sean Conroy

Arovella Therapeutics - Refocused pipeline towards iNKT cell therapy

Arovella is progressing on its lead product, ALA-101 (CAR19-iNKT) targeting blood cancers and has selected a CMO for the production of plasmid and lentiviral vector, with the company intending to finalise iNKT cell manufacturer in Q1 CY22. Legacy product, Zolpimist, an oro-mucosal spray for insomnia, expects to generate commercial sales in Australia (through Arovella’s partner STADA) starting from Q3 CY22. Following a recent fund raise of A$6.7m (excluding financing costs) in Q1 CY22, we estimate that the company has sufficient cash to run its iNKT studies and to manage its operating activities until CY23 (an acceleration in cash burn due to iNKT cell therapy related programs). Our valuation for Arovella stands at A$30.5m or A$0.05 per basic share.

05/04/2022 1 EN

Underlying

AROVELLA THERAPEUTICS LTD

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AU0000182784 Australian Securities Exchange Australia

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Sean Conroy

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Arovella Therapeutics - Refocused pipeline towards iNKT cell therapy

Arovella Therapeutics - Pending patents reconfirm development of iNKT

Arovella Therapeutics - Strategic refocus on iNKT platform

Arovella Therapeutics - Positive collaboration with ALA-101

Card Factory - Confident on FY25 outlook

Immix Biopharma - US CAR-T trial progresses to dose expansion

Helios Underwriting - Strategic shift from growth to consolidation

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