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Highlights

  • Clinuvel is engaged in the development and commercialisation of treatment for patients with life-threatening, systematic, metabolic, genetic and acute disorders.
  • FY23 marks the seventh consecutive year of revenue growth and profitability.
  • Wolgen (Philippe Jacques) has the highest stake in CUV with a shareholding of approximately 6.32%.

Clinuvel Pharmaceuticals Limited (ASX: CUV) is a pharmaceutical company that develops and commercialises treatments for patients with life-threatening, systematic, metabolic, genetic and acute disorders. Also, the company offers healthcare solutions to the general public. Headquartered in Australia, the company operates in the USA, Singapore and Europe.

The company registered the seventh consecutive year of positive revenue growth and profitability as it reported total revenue of AUD 83.01 million in FY23, up 23.92% over the previous year. In FY23, the company registered 46.60% YoY growth in profit after income tax to AUD 30.6 million. The period saw a 29.06% YoY rise in cash and cash equivalents to AUD 156.81 million.

The yearly performance was driven by SCENESSE demand. The yearly revenue includes  over-the-counter PhotoCosmetic product pilot launch in March 2023. The period also saw an increase in the number of specialist treatment centres.   

Top 10 shareholders of CUV

The top 10 shareholders of CUV have around 27.54% of the total shareholding in the company, while the top four shareholders have nearly 19.57% stake in the company. Wolgen (Philippe Jacques) and Ender 1, L.L.C. have the highest stake in the firm, with a shareholding of ~6.32% and ~5.24%, respectively.

Recent business update

The company informed via an ASX update dated 13 September 2023 that it will hold its annual general meeting of shareholders on 31 October 2023.

Through another update dated 12 September 2023, the company shared that it has collaborated with four well-known vitiligo experts to boost the development and commercialisation program of SCENESSE.

Outlook

The objective of CUV is to diversify revenue streams and convert into a sustainable pharmaceutical company. By utilising its existing expertise, the company intends to expand its operations.

CUV plans to progress multiple clinical campaigns with afamelanotide in several indications, introduce new categories of products such as PhotoCosmetics and seek acquisition opportunities.

CUV is committed to undertaking continuous R&D investment and progressing clinical studies.

Share performance of CUV

CUV shares closed 1.19% lower at AUD 16.6 apiece on 13 September 2023. With this, the CUV’s stock witnessed a fall of 28.26% in the last 12 months and a fall of 14.70% in the last one month.

The 52-week high of CUV is AUD 28.72 apiece, recorded on 30 January 2023, and the 52-week low is AUD 16.2 apiece, recorded on 12 September 2023 (yesterday). The 52-week high of CUV is nearly 42% higher than today’s closing price.

 

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

 

Note 2: The reference date for all price data, currency, is 13 September 2023. The reference data in this report has been partly sourced from REFINITIV.