OncoSil Medical Limited

 
OSL Receives positive CE Mark Status Report from the BSI: OncoSil Medical Limited (ASX: OSL) is a medical device company seeking to advance radiation for cancer patients. Recently, OSL reported that it has received a positive CE Mark Status Report from the British Standards Institute (BSI) following the Clinical Oversight Committee (COC) review meeting held in London on 03 October 2019. The report disclosed that BSI has now completed the analysis of the data presented to the COC and subsequently closed out all concerns with the external clinical and bio-statistical experts.

FY19 Financial Highlights for the Period ended 30 June 2019: OncoSil Medical Ltd announced its FY19 financial results wherein, the company reported other income of $3.64 million as compared to $4.40 million in FY18. The company reported research and development expenses at $5.58 million as compared to $ 5.82 million in the previous financial year. Loss for the period amounted to $8.57 million as compared to a loss of $8.54 million in FY18. The company reported total assets at $11.67 million and total equity of $10.68 million, as at 30 June 2019.

Q1FY20 Cash Flow Highlights for the period ending 30 September 2019: OSL released its first-quarter cash flow statement for FY20 wherein, the company reported $2.28 million of cash used in operating activities and a positive cash balance of $5.42 million as on 30 September 2019.

 

Income Statement (Source: Company Reports)

Outlook: The company is expecting an estimated cash outflow of $2.2 million for Q2FY20, which includes $1 million of research and development expense, $0.8 million of staff costs and $0.4 million of administration and corporate expense.
Stock Recommendation: The stock of OSL is trading at $0.155 with a market capitalization of $100.91 million. Currently, the stock is trading towards the upper band of its 52-week trading range of $0.021 to $0.205. The stock has given stellar returns of 128.57% and 105.13% during the last three months and six-months, respectively. The company received a positive CE Mark Status Report from the British Standards Institute (BSI). The Management highlighted that CE Mark review progresses to the next and final phase, assessing the post market clinical follow up (PMCF) programme and the post market surveillance (PMS) plan. These post approval plans outline how the OncoSil™ device would be launched in the European Market.  Considering the aforesaid facts, price movement and business prospect, we recommend a ‘Hold’ rating on the stock at the current market price of $0.155, down 3.125% as on 11 November 2019.

Imugene Limited

Completion of HER-Vaxx Phase 1b Gastric Cancer Study: Imugene Limited (ASX: IMU) is a clinical stage immuno-oncology company, engaged in developing a range of new and novel immunotherapies which seek to activate the immune system of cancer patients to treat and eradicate tumors. On 11 November 2019, the company has announced that its Extraordinary General Meeting (EGM) has been scheduled on 18 November 2019.

FY19 Financial Highlights for the year ended 30 June 2019: IMU announced its FY19 financial results wherein, the company reported other income of $4.13 million as compared to $1.84 million in FY18. The company reported a loss of $7.77 million as compared to $3.93 million in the previous financial year. Research and development expenses during FY19 stood at $7.61 million as compared to $3.22 million in FY18. During FY19, the company completed its HER-Vaxx Phase 1b gastric cancer study, meeting all study endpoints.The business reported total assets of $30.78 million and total equity of $27.29 million as on 30 June 2019. IMU also presented study results of the Phase 1b of its HER-Vaxx cancer vaccine at the American Association for Cancer Research (AACR) meeting in April 2019. Results from the study were also presented at the American Society of Clinical Oncology (ASCO) in Chicago, Illinois in June 2019.


FY19 Income Statement (Source: Company Reports)

Stock Recommendation: The stock of IMU is trading at $0.033 with a market capitalization of $93.99 million. Currently, the stock is trading close to the upper end of its 52-weeks trading range of $0.013 - $0.037. The stock has given returns of 13.04% and 52.94% in the last three months and six-months, respectively. After the financial year ended, the company proposed to acquire Vaxinia Pty Ltd and CF33, a worldwide exclusive license to a promising oncolytic virus technology, developed at City of Hope, with completion subject to certain conditions. City of Hope is a Los Angeles based independent research and treatment centre for cancer. CF33 is a chimeric vaccinia poxvirus and possesses noted expertise in the oncolytic virus field. Looking at the above scenario and current price movement, we have a watch stance on the stock at the current market price of $0.033, up 26.923% on 11 November 2019 and suggest investors to wait for better entry levels.

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