Full Year 2022 Results
Kinarus has published its Annual Report for 2022. The challenging funding environment has delayed the start of clinical studies for KIN001 in wAMD and IPF, however, the report suggests that Kinarus’ focus is returning to these indications, with hints of interest from potential investors and partners. The KINFAST trial in COVID-19 remains ongoing.Cash at the end of FY 2022 was CHF 1.3m compared to CHF 0.1m at the end of FY 2021. This does not include the recent CHF 1.5m convertible loan from CDIM described in our previous note, which is expected to fund operations into 2024.
While there appears to be interest in KIN001 in idiopathic pulmonary fibrosis (“IPF”) and probably wet age-related macular degeneration (“wAMD") by potential investors, at least in China, Kinarus will not start clinical studies in these indications without further funding. Kinarus’ Board and management should be commended for these difficult decisions.
Kinarus’ cash balance and share count are the only changes to our fair valuation which moves slightly from CHF96.0m to CHF93m, or CHF0.093 per share.
Equity Development enables companies to become better understood and supported by investors. Since our launch in 1996 we have consistently focused on helping our clients improve their communication and relationships with both existing and potential shareholders. Our clients have come from a wide variety of sectors and domiciles, are both private and quoted and range in size from micro-cap to $multi-billions. We offer free access to company research notes written by experienced analysts. These notes include detailed forecasts, financial models and a fair value. We host regular Private Investor Forums at which investors have the opportunity to hear company directors present, and to ask questions. These are free to attend. We broadcast live Webinars with company management that include active Q&A. We also make the recordings available online. We arrange face to face meetings between private investors and company management. We are active users of Twitter, commenting daily on company news, share price moves, Directors’ Dealings, Equity Development Research Notes & Events.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.