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Highlights
- DAYBUE™ (trofinetide) has obtained approval in Canada for Rett syndrome and has US FDA clearance in place.
- In FY24, the company expects commercial income guidance to be AUD 132-138 million from North America DAYBUETM.
- NEU shares closed 3.81% lower at AUD 12.88 apiece on 4 December 2024.
Neuren Pharmaceuticals Limited (ASX:NEU) develops new drug therapies for the treatment of neurological disorders. DAYBUE™ (trofinetide) is a product of NEU that has received US FDA approval. It is designed to treat Rett syndrome in patients who have attained the age of two years and above.
In the first half of the financial year 2024 (1HFY24), the royalty income of NEU increased by 594.29% to AUD 24.3 million, however, group revenue dropped by 50% YoY to AUD 32.1 million. Further,net profit also declined by almost 83% YoY to AUD 8 million as there was no milestone payment during the period.
In the third quarter of FY24 (3QFY24), royalty income stood at AUD 13.2 million, taking it to AUD 37.5 million for the first nine months of FY24. DAYBUE™ (trofinetide) net sales in 3QFY24 surpassed USD 250 million, resulting in the first sales milestone payment of USD 50 million. Notably, DAYBUE™ secured the required approval in Canada for Rett syndrome.
Outlook
According to an ASX update dated 27 August 2024, FY24 commercial income guidance for North America DAYBUETM is AUD 132-138 million, up from AUD 86 million in 2023. This includes a milestone payment of AUD 77 million in 2HFY24 and royalties of AUD 55-61 million. The guidance is based on the guidance issued by Acadia.
The company expects its full-year 2024 income to fall in the range of AUD 216 – 218 million.
Top 10 shareholders of NEU
The top 10 shareholders of NEU have around 22.16% shareholding in the firm. Milford Asset Management Ltd. holds the maximum stake in the firm with a shareholding of 4.74%, followed by Cameron Richard Pty. Ltd. with a shareholding of ~3.23%.
Share performance of NEU
NEU shares closed 3.81% lower at AUD 12.88 apiece on 4 December 2024. NEU’s share price has declined by almost 17.75% in one year and has gained 4.38% in the past one month.
52-week high of NEU is AUD 25.95, recorded on 28 December 2024 and 52-week low is AUD 12.02, recorded on 1 November 2024.
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 04 December 2024. The reference data in this report has been partly sourced from REFINITIV.
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