Research on Avacta Group PLC (AVCT:LON) from Trinity Delta
Trinity Delta view: Avacta has retained 100% ownership of its proprietary pre|CISION technology and PDC assets as these advance towards mid-term value inflection points. Multiple opportunities exist to unlock significant value from the recent advances in pre|CISION chemistry (including dual payload programmes) through generating and developing a pipeline of highly novel tumour targeting PDCs, subject to securing funding. Upcoming clinical catalysts could help extend the Q127 cash runway, via potential partnering deals, further equity investment, or a combination. Faridoxorubicin has already demonstrated the ability of pre|CISION to deliver a potent, toxic payload to the tumour microenvironment with minimal systemic effects; while AVA6103 is the first asset to incorporate a sustained release mechanism for its exatecan payload. Our last published valuation was £471m ($603m) or 103p/share.
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