reports
- Colin Smith
Avacta Group - FY23 results, Chris Coughlin appointed CEO
Avacta reported results for FY23 but more importantly announced the appointment of Christina Coughlin as CEO wef 1 May, replacing Alastair Smith who is stepping down today. FY23 results were better than consensus at the EPS level. Net cash ended the year at £16.6m, as previously disclosed, which has since been bolstered by the £31m gross equity raise enabling Avacta to fund the AVA6000 programme through Phase 2 clinical trials, as well as advancing other candidates in its pre|CISION™ and Affime...
Hybridan Small Cap Feast - 30 April 2024
30th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: Wincanton (WIN.L) has left the Premium list of the Main Market Byotrol (BYOT.L) has left the AIM Market What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admis...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta Lighthouse: Avacta
Trinity Delta view: Prioritisation of the Therapeutics division continues, with Christina Coughlin’s appointment as CEO (having been on the Board since March 2022 and Head of R&D since February 2024). Once the Diagnostics division has been divested, Avacta will become a fully focused biotech company. This strategy is underpinned by the proprietary pre|CISION platform, and lead peptide drug conjugate AVA6000. Completion of the two-weekly safety study and progression into dose expansion cohorts du...
- Colin Smith
Avacta Group - AACR update
As pre-announced, Avacta has presented the results of the 3-weekly P1 Arm 1 study of its AVA6000 lead clinical asset, based on the pre|CISION™ drug development platform at the American Association for Cancer Research's annual general meeting. The update does not cover progress on the ongoing 2-weekly dosing study which is underway, and Avacta confirmed current guidance on timing including being on track to begin the dose expansion study in 2H24. There are compelling updates on the progress repor...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta Lighthouse: Avacta
Trinity Delta view: The proprietary pre|CISION platform is key to Avacta’s investment case, hence updated data that continue to support key hypotheses for AVA6000 are reassuring. Future efficacy data from studies planned to start in H224 will be key, and could also help to more broadly validate pre|CISION. The recent £31.1m fundraise (March 2024 Lighthouse), which provides a cash runway of c 24 months ie into early 2026, will be used to advance the therapeutics pipeline, in particular AVA6000, a...
Avacta Group - AVA6000 Abstract Release by AACR and Full Presentation ...
Avacta Group - AVA6000 Abstract Release by AACR and Full Presentation Update 5 April 2024 Avacta Group plc(“Avacta” or “the Group” or “the Company”) AVA6000 Abstract Release by AACR and Full Presentation Update Avacta Group plc (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs and powerful diagnostics, today announces that the abstract of the poster to be presented at the American Association of Cancer Research (“AACR”) Annual Meeting in San Diego, California on Tuesday 9 April has now been released by AACR. The poster presentation will be based...
Hybridan Small Cap Feast - 21 Mar 24
21st March 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta Lighthouse: Avacta
Trinity Delta view: The upsized fundraise of £31.1m (gross), together with existing cash of £16.6m (at 1 January 2024), are expected to provide a cash runway of c 24 months (ie into early 2026) covering a number of value inflection points in AVA6000’s development pathway, which could bring opportunities for non-dilutive funding for the broader pre|CISION platform. Monetising Diagnostics through divestment would also bring in non-dilutive funding, but may, in our view, be targeted for later in th...
Updated Results from Single-Agent Phase 1 Clinical Trial of Peptide Dr...
Updated Results from Single-Agent Phase 1 Clinical Trial of Peptide Drug Conjugate, AVA6000 to be Presented in a Poster at the American Association of Cancer Research (AACR) Annual Meeting on April 9, 2024 5 March 2024 Avacta Group plc (“Avacta” or “the Group” or “the Company”) Updated Results from Single-Agent Phase 1 Clinical Trial of Peptide Drug Conjugate, AVA6000 to be Presented in a Poster at the American Association of Cancer Research (AACR) Annual Meeting on April 9, 2024 Avacta Group plc (AIM: AVCT), a life sciences company developing innovative, targeted oncology drug...
- Colin Smith
Avacta Group - £33m raise to progress drug pipeline
Avacta has announced an equity raise for up to £26.8m, since increased to £32.5m on strong demand. The funds raised are to progress the drug development pipeline, primarily for Avacta's lead clinical asset AVA6000, where the company anticipates a potential start of the expansion cohorts in several orphan diseases in 2H24 followed by the Phase 2 study, consistent with previous guidance. Avacta has also confirmed its intention to divest its Diagnostics division in a manner which maximises benefit ...
Hybridan Small Cap Feast: 19 Jan 24
19th January 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje...
- Martin Hall
Hardman & Co Healthcare Index: 2023 – Capital demands dent performance
The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (...
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Appointment of Chief Business Officer
Appointment of Chief Business Officer 19 December 2023 Avacta Group plc (“Avacta” or “the Group” or “the Company”) Appointment of Chief Business Officer Appointment signals commercial emphasis for Avacta to leverage clinical progress Avacta Group plc (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs and powerful diagnostics, is pleased to announce the appointment of Dr Simon Bennett as Chief Business Officer of the Therapeutics Division. Simon has over 26 years’ commercial experience in the biopharma industry. He has worked with companies fro...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Avacta: Tailored tumour targetting with pre|CISION
Avacta’s proprietary pre|CISION platform is key to the investment case, and further details on lead programme AVA6000, a tumour targeted form of the chemotherapy doxorubicin, continue to support key hypotheses. Data show that AVA6000 is selectively activated at the target tumour site, resulting in lower toxicities, improved tolerability, and greater potency. This has translated into promising, albeit early, signs of clinical activity. AVA6000’s clinical success will help to validate pre|CISION, ...
ALS-6000-101 Phase 1a Three-Weekly Dose Escalation Safety Study Data
ALS-6000-101 Phase 1a Three-Weekly Dose Escalation Safety Study Data This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. 13 December 2023 Avacta Group plc (“Avacta” or “the Group” or “the Company”) ALS-6000-101 Phase 1a Three-Weekly Dose Escalation Safety Study Data Th...
- Colin Smith
Avacta Group - AVA6000 successful P1a results
Avacta has successfully enrolled all patients in the Phase 1a three-weekly dose escalation clinical study for its AVA6000 cancer drug. Dosing in Cohort 7, the last cohort in the study, has not reached a maximum tolerated dose (MTD), despite members receiving 3.5x the maximum tolerated equivalent dose of doxorubicin, unequivocally confirming the safety of AVA6000. Study results also demonstrate that AVA6000 delivered the concentrated release of doxorubicin at the site of cancer at therapeutic le...
Avacta to present promising new data from Affimer® and pre|CISIONTM pl...
Avacta to present promising new data from Affimer® and pre|CISIONTM platform assets at AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics 5 October 2023 Avacta Group plc (“Avacta” or the “Group” or the “Company”) Avacta to present promising new data from Affimer® and pre|CISIONTM platform assets at AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics AVA3996: FAP-α-activated proteasome inhibitor from pre|CISIONTM platform concentrates proteasome inhibitor payload in the tumour, increasing the therapeutic index of this cla...
- Colin Smith
Avacta Group - 1H23 results - AVA6000 remains pivotal
Avacta reported revenue for the interim period to the end June of £11.9m, more than doubled YoY, reflecting the growth in the contribution from the Diagnostics Division, including an initial contribution from the Coris acquisition completed in June. However, the main driver to the company's share price performance remains progress in the clinical trials of the AVA6000 compound where the company recently announced the successful completion of dosing in cohort 6 in the Phase 1A trial and a propose...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta Lighthouse: Avacta
Trinity Delta view: The potential for long-term value creation in both Avacta divisions is highlighted by: (1) clinical momentum in Therapeutics as lead pre|CISION asset AVA6000 approaches key data read out and initiation of the first potentially registrational trial; and (2) by the commercial momentum in the maturing Diagnostics business as it advances towards self-sustainability. Avacta’s near- and medium-term Therapeutics prospects are underpinned by the pre|CISION platform, with AVA6000 data...
- Colin Smith
Avacta Group - Initiation
Avacta has two proprietary drug development platforms, pre|CISION™ and Affimer® and two divisions, Therapeutics and Diagnostics, of which Therapeutics dominates valuation. Avacta is currently shepherding its AVA6000 agent, the first fruit of its pre|CISION™ platform, through Phase 1a clinical trials with highly promising but early stage initial results. While this compound alone could easily be worth £10/share, given the high risk of clearing all clinical trials and the time value of money, we...
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