Pharmaust Limited (ASX: PAA) is into its clinical-stage. The company is into developing targeted cancer therapeutics for human as well as animals. It is specialised in using its marketed drugs for a different purpose, which lowers the risks and costs of development. The subsidiary of the company, Epichem supports these efforts, which helps in enhancing revenues being a successful contract medicinal chemistry company.
The company today on 14 March 2019 announced that it had received early positive results from its Phase I trial that was announced and commenced on 20 February 2019. The trial in nine canines is evaluating a reformulated monepantel (MPL) tablet for absorption and pharmacokinetic parameters. The serum levels of MPL from a single tablet align with those predicted, to produce suppression of tumour markers and tumour regression.
The company possess a leading drug candidate called Monepantel. It is currently registered and marketed and used in treatment for parasite infections in food chain animals. It develops monepantel independently and as a safe modulator of the mTOR pathway. This helps in driving cancers. The company has several ‘methods of use’ patents which includes the anti-cancer pursuits of monepantel as well. Blood concentrations of MPL exceeded than, which was observed in the Phase one clinical trial in humans, after a single dose administration of one tablet to the dogs.
Let us now have a quick look at the financial performance of the company over the last year. The revenue of the company stood at ~$2.87 million in FY18 as compared to $2.85 million in FY17. The loss after tax however increased and stood at $2.52 million in FY18 as compared to $1.34 million in FY17. On the balance sheet front, the total assets of the company stood at $8.35 million in FY18 as compared to $8.19 million approximately in FY17. The net assets, however, were reported at $$7.13 million in FY18 as compared to $6.91 million in FY17.
On the cash flow front, in FY18, the company reported a cash outflow from operating activities of $1.55 million as compared to $1.25 million in FY17. The net cash outflow from investing activities, however, stood at ~0.86 million in FY18 vs ~0.057 million in FY17. The cash flow from financing activities, however, remained positive and stood at $1.70 million in FY18 as compared to $3.02 million in FY17. The company had a period end cash balance of $1.87 million in FY18 vs $2.59 million in FY17.
On the price-performance front, the stock of Pharmaust Limited is currently trading at $0.037, up 9.375% per cent during the day’s trade, with a market capitalisation of $6.41 million (AEST 04:00 PM). The stock has generated a negative YTD return of 9.57% and a negative return of 7.19% and 21.62% over the past six months and one-month period, respectively. It had a 52-week high price of $0.058 and a 52-week low price of $0.030, with an average trading volume of ~409,010.
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