DJ AdAlta (1AD): Initiation - Targeting IPF with its i-body platform
Edison Investment Research Limited AdAlta (1AD): Initiation - Targeting IPF with its i-body platform 22-Feb-2021 / 20:00 GMT/BST=----------------------------------------------------------------------------------------------------------------------
London, UK, 22 February 2021
AdAlta (1AD): Initiation - Targeting IPF with its i-body platform AdAlta is a clinical-stage company that uses its proprietary i-body discovery platform to target diseases, with an initial focus on conditions involving fibrosis. Its lead programme is AD-214, a C-X-C chemokine receptor type 4 (CXCR4) inhibitor for the treatment of idiopathic pulmonary fibrosis (IPF), which is in the healthy volunteer portion of a 98-subject Phase I trial. IPF is an orphan progressive lung disease that remains a significant unmet medical need, despite two approved blockbuster therapies, with median survival post-diagnosis of three to five years.
We value AdAlta at AUSD60m or AUSD0.25 per basic share using a risk-adjusted net present value (NPV) model. We only attribute value to AD-214 as it is the only programme in human clinical trials. The company had AUSD8.1m in cash at 31 December 2020 and we estimate will likely need to raise an additional AUSD11m through the end of FY23, barring additional licensing deals. Click here to view the full report or here to sign up to receive research as it is published.
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1169994 22-Feb-2021
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February 22, 2021 15:00 ET (20:00 GMT)