Redx Pharma: Momentum and execution continue in H121
Redx Pharma’s H121 results highlight continued momentum and delivery against expectations, despite COVID headwinds on clinical studies. The start of the Phase I study of RXC007, a ROCK2 inhibitor for fibrosis, means the company now has two distinctly different in-house assets in the clinic. Lead in-house programme RXC004, a porcupine inhibitor for genetically selected solid tumours, is completing Phase I studies and set to enter Phase II trials during H221. The solid cash position of £39.9m supports increased R&D investment through to end-2022, covering several important value inflection points. Our updated rNPV-based valuation is £350.7m, equivalent to 128p/share (86p fully diluted).Redx Pharma is engaged in drug discovery, pre-clinical development and licensing. The principal activities of the business are the discovery and development of proprietary, small molecule drugs to address areas of high, unmet medical need. Co. is developing a porcupine inhibitor drug candidate, RXC004, as a cancer treatment using in vivo models of pancreatic and gastric cancer. ROCK1/2 inhibitors (known as systemic pan-Rock inhibitors) are known to induce hypotension. Co.'s ROCK inhibitor is designed to only work at the site of action in the gastrointestinal tract and degrades quickly, once absorbed, through enzyme-mediated metabolism in the blood, deeming it a soft inhibitor.
We are experienced healthcare and life sciences analysts providing the highest quality service to companies in these sectors and to investors. We have expertise in the fields of the biotech, medtech , specialty pharma and consumer health sectors.
The old-fashioned values of the City enabled London to become a global financial centre, and we pride ourselves for our integrity and professionalism, where our word is our bond. This applies to our research, and all interactions with companies, the buyside and other partners.
We also firmly believe that by putting our clients first, we create long term value for all stakeholders.
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.