New Risk • Aug 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (80% average weekly change). Earnings are forecast to decline by an average of 36% per year for the foreseeable future. Market cap is less than US$10m (€8.72m market cap, or US$9.42m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (AU$49m net loss in 2 years). Shareholders have been diluted in the past year (8.5% increase in shares outstanding). Revenue is less than US$5m (AU$6.0m revenue, or US$3.9m). お知らせ • Aug 24
Bionomics Completes Last Patient Last Visit in the Phase 2B Attune Study for Post-Traumatic Stress Disorder Bionomics Limited announced that the last patient last visit has been completed in its Phase 2 ATTUNE study in PTSD, and disclosed timing of the End of Phase 2 (EoPh2) meeting to review advancing BNC210 into Phase 3 program in patients with SAD. The Phase 2b ATTUNE study (NCT04951076) is a double-blind, placebo-controlled, randomized study of twice daily BNC210 as monotherapy treatment for PTSD. The primary endpoint is change in a Clinician-Administered PTSD Scale for DSM-5 (CAPS-5) total symptom severity scores from baseline to week 12 compared to placebo. Secondary endpoints include change from baseline to week 12 compared to placebo on the PTSD-checklist (PCL-5), anxiety (Hamilton Anxiety Rating Scale, HAM-A), depression (Montgomery-Asberg Depression Rating Scale, MADRS), Clinician Global Impression (CGI), Patient Global Impression (PGI), sleep (Insomnia Severity Index, ISI) and disability (Sheehan Disability Scale, SDS) scales. Approximately 200 participants have been enrolled at 27 sites in the United States and 7 sites in the United Kingdom, and topline results are anticipated by the end of September 2023. The EoPh2 meeting to discuss advancing BNC210 into Phase 3 development as an acute treatment for SAD has been scheduled for mid-September 2023. At this meeting, Bionomics will discuss with the FDA its plans for a Phase 3 program that would support the submission of a new drug application for BNC210 for the treatment of SAD. The Company believes that the results from Phase 2 PREVAIL study support the progression of BNC210 into Phase 3 and plans to provide an update by the end of 2023 following the receipt of formal meeting minutes from the FDA. New Risk • Aug 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.85m (US$9.71m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (72% average weekly change). Earnings are forecast to decline by an average of 36% per year for the foreseeable future. Market cap is less than US$10m (€8.85m market cap, or US$9.71m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$49m net loss in 2 years). Shareholders have been diluted in the past year (8.5% increase in shares outstanding). Revenue is less than US$5m (AU$6.0m revenue, or US$4.0m). Reported Earnings • Feb 24
First half 2023 earnings released: AU$0.012 loss per share (vs AU$0.013 loss in 1H 2022) First half 2023 results: AU$0.012 loss per share. Net loss: AU$16.2m (loss widened 24% from 1H 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in Europe. Board Change • Feb 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO, President & Director Spyros Papapetropoulos was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 18
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 6 experienced directors. 1 highly experienced director. Executive Chairman Errol B. De Souza is the most experienced director on the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 26
Full year 2022 earnings released: AU$0.016 loss per share (vs AU$0.011 loss in FY 2021) Full year 2022 results: AU$0.016 loss per share (down from AU$0.011 loss in FY 2021). Net loss: AU$21.8m (loss widened 150% from FY 2021). Over the next year, revenue is forecast to grow 44%, compared to a 10% growth forecast for the Biotechs industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 39% per year, which means it is well ahead of earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 6 experienced directors. 1 highly experienced director. Executive Chairman Errol B. De Souza is the most experienced director on the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jan 07
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 6 experienced directors. 1 highly experienced director. Executive Chairman Errol B. De Souza is the most experienced director on the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Dec 31
High number of new directors Member of Clinical Advisory Board Srini Rao was the last director to join the board, commencing their role in 2021. Reported Earnings • Aug 26
Full year 2021 earnings released: AU$0.01 loss per share (vs AU$0.011 loss in FY 2020) Full year 2021 results: Net loss: AU$8.70m (loss widened 50% from FY 2020). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Executive Departure • Mar 25
Legal Counsel & Company Secretary has left the company On the 23rd of March, Jack Moschakis' tenure as Legal Counsel & Company Secretary ended after 5.9 years in the role. As of December 2020, Jack personally held only 35.52k shares (€2.7k worth at the time). A total of 2 executives have left over the last 12 months. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue beats expectations Revenue exceeded analyst estimates by 43%. Is New 90 Day High Low • Feb 19
New 90-day high: €0.27 The company is up 309% from its price of €0.066 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 9.0% over the same period.