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Broker upgrades Antisense Therapeutics by 470%

Updated: Aug 21, 2021

Australian based innovative biotech company, Antisense Therapeutics Limited (ASX: ANP) and (FRA: AWY) received a strong brokers recommendation in December 2020 and valuing the shares unrisked at AUD $0.57 or around EUR 0.35.

Antisense Therapeutics Limited (ASX: ANP) and (FRA: AWY) has recently dual listed on the Frankfurt Stock Exchange. The company is developing and commercializing antisense pharmaceuticals for large unmet markets in rare diseases including Duchenne Muscular Dystrophy (DMD).

Antisense Therapeutics ticks several boxes for growth and biotech investors

- The company’s products are in-licensed from Ionis Pharmaceuticals Inc. (NASDAQ: IONS), an established leader in antisense drug development.

- The company is significantly undervalued relative to global peers

- The addressable market for DMD is around EUR 3.5 billion

A brief overview of Antisense Therapeutics

The Company’s lead drug is ATL1102– an antisense inhibitor of the CD49d receptor, for DMD. On the 14 December 2020 the Company received notification that the European Commission has approved ATL1102 as an orphan medicinal product for DMD. This status brings development and marketing incentives in Europe.

Phase II clinical trials have been completed and reported highly promising results. Indicators for efficacy and safety trial were met, together with evidence of significantly reducing the number of brain lesions in patients with relapsing-remitting multiple sclerosis (RRMS). The Company has a second drug, ATL1103 designed to block GHr production that successfully reduced blood IGF-I levels in Phase II clinical trials in patients with the growth disorder acromegaly.

Phase IIb trials are expected to commence in Europe in 2021. The trial is likely to be an approvable study, paving the way for commercialisation and income generation in the near future.

A copy of the brokers report can be downloaded here

Equity Research Report - ANP - 16 Decemb
Download • 1.71MB

Corporate connect also published a "flash report" January 2021 noting the failure of the Sarepta Therapeutics gene therapy (SRP-9001) trials for Duchenne Muscular Dystrophy (DMD). Sarepta's share price fell 53% on release of the results. The report notes the SRP-9001 results are good for Antisense and ATL1102 for a number of reasons including that inflammation is a much bigger driver in the pathogenisis clinical outcome of DMD than originally thought. This now makes ATL1102 the prominant DMD drug. The report increases the 12-month share target to AUD $0.43 or €0.26.


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