Company: Blinklab

Issue Price: $0.20

Funds to be raised: $7 million

ASX code: BB1

Lead Manager: Westar Capital (not underwritten)

Offer closes: 21 March 2024

Expected listing date: 4 April 2024

Market capitalisation on listing: $20 million

Dimerix - Interim Data Assessment in Mid-March

Last month, Neuren Pharmaceuticals (NEU; $24.65) announced impressive top-line data from its Phase II trial of NNZ-2591 conducted in 18 patients with Phelan-McDermid Syndrome (PMS).

Over the last two months, there have been some strong price movements in several major and minor biotech stocks. Following a downturn that has lasted almost two years, has the Australian sector finally bottomed?

We reviewed Clinuvel Pharmaceuticals, Dimerix, Imugene, and Neuren.

Over the last two months, there have been some strong price movements in several major and minor biotech stocks. Following a downturn that has lasted almost two years, has the Australian sector finally bottomed?

We reviewed Clinuvel Pharmaceuticals, Dimerix, Imugene, and Neuren.

Over the last two months, there have been some strong price movements in several major and minor biotech stocks. Following a downturn that has lasted almost two years, has the Australian sector finally bottomed?

We reviewed Clinuvel Pharmaceuticals, Dimerix, Imugene, and Neuren.

Over the last two months, there have been some strong price movements in several major and minor biotech stocks. Following a downturn that has lasted almost two years, has the Australian sector finally bottomed?

We reviewed Clinuvel Pharmaceuticals, Dimerix, Imugene, and Neuren.

In additional to the lucrative royalty stream and milestone payments Neuren Pharmaceuticals (NEU: $14.68) is receiving from its first drug DAYBUE, the company is also conducting four clinical studies in four separate neurodevelopmental disorders with its next drug candidate, NNZ-2591.

Adalta (IAD: $0.018) is developing the next generation of therapeutic antibodies. These compounds are human protein drug candidates based on the unique structure of shark antibodies. This design combines the features of small molecule drugs (that can access binding sites conventionally difficult to access) and antibodies (which are characterized by the ability for highly specific binding).

Clinuvel Pharmaceuticals (CUV: $16.62) has built a profitable business from the successful commercialization of Scenesse, a drug indicated for the treatment of EPP (erythropoietic protoporphyria). In the last financial year, revenue was up 19% and net profit was up 46% to $30.6 million. The company finished June with a cash balance of $157 million.

In May last year, Imugene (IMU: $0.089) commenced the first study with its novel oncolytic virus, CF33. CF33 was invented by Dr Yuman Fong and his team at City of Hope. It was in-licensed by Imugene in 2019 with the first clinical study having started in May last year.

For Chimeric Therapeutics (CHM: $0.029), achieving Phase Ib data from its programs is expected to position the company for licensing deals ahead of registration Phase II studies with CAR-T cell therapies.

Novel heart valve development company Anteris Technologies (AVR: $20.00) has secured commitments to raise $40 million at $20 per share through a private placement.

Immuron (IMC: $0.075) has reported a record $1.5 million in sales in the September quarter for its Travelan product used to prevent travelers' diarrhea.

Aroa Biosurgery (ARX: $0.79), a wound-healing products company, continues its resilient performance with a 35% increase in cash receipts during the September quarter compared to the PCP. Total revenue during the September quarter was NZ$14.8 million.

–3 November 2023–

Neuren  Pharmaceuticals' (NEU: $11.29) partner Acadia Pharmaceuticals has reported a strong second quarter of sales of its drug DAYBUE for Rett syndrome after having been launched in the US in April this year.

Over the next 12-24 months a number of companies in the sector may receive acquisition bids. The last company to be acquired was ResApp Health for $180 million by Pfizer in 2022. Three companies viewed as potential targets by Bioshares are discussed below.

Dimerix (DXB: $0.16) has signed a licensing deal for its lead compound, DMX-200, with Advanz Pharma. The deal gives Advanz rights to the use of DMX-200 for the treatment of FSGS (Focal Segmental Glomerulosclerosis) in Europe, the UK, Canada, Australia and New Zealand.

Over the next 12-24 months a number of companies in the sector may receive acquisition bids. The last company to be acquired was ResApp Health for $180 million by Pfizer in 2022. Three companies viewed as potential targets by Bioshares are discussed below.

Not surprisingly, Pharmaxis (PXS: $0.035) will sell off its mannitol drug business. The acquiror is Australian-based Arna Pharma.