Has the Australian Biotech Industry valuation changed over the past few years?

Investors are optimistic on the Australian Biotechs industry, and appear confident in long term growth rates. The industry is trading at a PE ratio of 49.9x which is higher than its 3-year average PE of 41.8x. The 3-year average PS ratio of 5.5x is higher than the industry's current PS ratio of 3.0x.

Which industries have driven the changes within the Australian Healthcare industry?

There are no additional sub-industries under this industry.

Australian (ASX) Biotech Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 17 Jul 2026	AU$71.8b	AU$23.5b	AU$1.4b	22.5x	49.9x	3x
Sun, 14 Jun 2026	AU$63.2b	AU$23.4b	AU$1.4b	20.1x	44.1x	2.7x
Tue, 12 May 2026	AU$60.7b	AU$22.8b	AU$1.4b	20.1x	44.1x	2.7x
Thu, 09 Apr 2026	AU$79.5b	AU$23.4b	AU$1.4b	24.4x	55.7x	3.4x
Sat, 07 Mar 2026	AU$81.8b	AU$23.5b	AU$1.4b	25.5x	57.1x	3.5x
Mon, 02 Feb 2026	AU$98.8b	AU$23.6b	AU$3.8b	20.3x	25.7x	4.2x
Wed, 31 Dec 2025	AU$95.6b	AU$24.5b	AU$4.0b	18.6x	23.9x	3.9x
Fri, 28 Nov 2025	AU$103.1b	AU$25.2b	AU$4.1b	19.5x	25x	4.1x
Sun, 26 Oct 2025	AU$116.1b	AU$25.2b	AU$4.1b	22.3x	28.1x	4.6x
Tue, 23 Sep 2025	AU$108.7b	AU$24.9b	AU$4.1b	21.2x	26.6x	4.4x
Thu, 21 Aug 2025	AU$119.1b	AU$25.2b	AU$4.3b	35.3x	27.7x	4.7x
Sat, 19 Jul 2025	AU$139.9b	AU$24.4b	AU$3.9b	39.3x	36.3x	5.7x
Mon, 16 Jun 2025	AU$129.5b	AU$24.5b	AU$3.9b	20x	33.4x	5.3x
Wed, 14 May 2025	AU$130.9b	AU$24.8b	AU$3.9b	20.8x	33.4x	5.3x
Fri, 11 Apr 2025	AU$131.2b	AU$25.7b	AU$4.1b	20.2x	32.2x	5.1x
Sun, 09 Mar 2025	AU$140.6b	AU$25.2b	AU$4.0b	22.1x	35.3x	5.6x
Tue, 04 Feb 2025	AU$151.1b	AU$24.8b	AU$3.7b	24.8x	40.6x	6.1x
Thu, 02 Jan 2025	AU$151.8b	AU$24.8b	AU$3.7b	24.4x	40.8x	6.1x
Sat, 30 Nov 2024	AU$150.7b	AU$23.6b	AU$3.5b	26x	42.8x	6.4x
Mon, 28 Oct 2024	AU$154.4b	AU$23.3b	AU$3.5b	27.9x	44.6x	6.6x
Wed, 25 Sep 2024	AU$151.1b	AU$22.5b	AU$3.3b	28.1x	45.5x	6.7x
Fri, 23 Aug 2024	AU$160.0b	AU$22.8b	AU$3.5b	29.9x	46.2x	7x
Sun, 21 Jul 2024	AU$162.1b	AU$22.1b	AU$3.2b	33.3x	50.1x	7.3x
Tue, 18 Jun 2024	AU$150.6b	AU$22.3b	AU$3.3b	30.8x	45.9x	6.7x
Thu, 16 May 2024	AU$146.5b	AU$22.1b	AU$3.2b	30.9x	45.3x	6.6x
Sat, 13 Apr 2024	AU$145.0b	AU$22.6b	AU$3.3b	30.4x	43.7x	6.4x
Mon, 11 Mar 2024	AU$145.5b	AU$22.2b	AU$3.2b	29.6x	44.8x	6.6x
Wed, 07 Feb 2024	AU$153.3b	AU$21.1b	AU$2.9b	34.4x	53.4x	7.3x
Fri, 05 Jan 2024	AU$145.6b	AU$20.4b	AU$2.7b	34.4x	54x	7.1x
Sun, 03 Dec 2023	AU$134.2b	AU$20.6b	AU$2.7b	33.9x	49.3x	6.5x
Tue, 31 Oct 2023	AU$117.5b	AU$21.5b	AU$2.9b	28.2x	40.8x	5.5x
Thu, 28 Sep 2023	AU$129.2b	AU$21.6b	AU$2.8b	30.2x	45.7x	6x
Sat, 26 Aug 2023	AU$135.1b	AU$21.4b	AU$2.6b	38.5x	51.9x	6.3x
Mon, 24 Jul 2023	AU$137.9b	AU$17.9b	AU$2.3b	37.4x	59.8x	7.7x


AU Market	0.80%
Healthcare	-1.12%
Biotech	-1.61%
Biotech	-1.61%

Company	Last Price	7D	1Y	Valuation
MSB Mesoblast	AU$2.44	8.9% +AU$264.7m	1.2%	PS33.8x
CSL CSL	AU$123.32	0.3% +AU$205.9m	-52.1%	PE29.5x
PYC PYC Therapeutics	AU$1.61	3.5% +AU$54.1m	18.4%	PS77x
TTX Tetratherix	AU$6.75	8.0% +AU$26.5m	77.6%	PS179.3x
RAD Radiopharm Theranostics	AU$0.02	5.3% +AU$3.5m	-9.1%	PS4.4x

Announcement • Jul 07

Alterity Therapeutics Limited Receives FDA End-Of-Phase 2 Meeting Minutes Confirming Registrational Pathway For ATH434 In Multiple System Atrophy

Alterity Therapeutics Limited has received the official meeting minutes from its End-of-Phase-2 (EOP2) meeting for ATH434 in Multiple System Atrophy (MSA) from the U.S. Food and Drug Administration (FDA). The minutes confirm the key elements of the registrational Phase 3 program previously announced on 9 June 2026 and the path toward a potential New Drug Application (NDA) filing. The EOP2 minutes confirmed that the FDA agreed with the proposed Phase 3 trial design, including the study population, treatment regimen, and efficacy endpoints. Alignment was reached on the selection and analysis of the primary endpoint the 11-item UMSARS Part I rating scale, a functional measure of activities of daily living affected in MSA. Agreement was also reached on selection of key secondary endpoints, including the Swallowing Disturbance Questionnaire (SDQ), the Orthostatic Hypotension Symptom Assessment (OHSA), and the Clinical Global Impression of Severity (CGI-S). The Phase 3 study is expected to enroll approximately 200 patients who will be randomized in a 1:1 ratio and treated with ATH434 50 mg or matching placebo twice daily for 12 months. The FDA further indicated that a single pivotal trial plus confirmatory evidence could provide the necessary data to support an approval of ATH434 for the treatment of MSA. Alterity expects that the data from its ATH434-201 Phase 2 clinical trial will provide the required confirmatory evidence. The FDA also indicated that the anticipated size of Alterity's safety database at the conclusion for the Phase 3 was reasonable. A single pivotal trial provides an efficient route to completion of the clinical development program and potential filing of an NDA, both in time and resources required. The Company also plans to offer an open label extension to participants who complete the Phase 3 trial to continue their treatment and enhance the safety database for ATH434. Alterity's lead candidate, ATH434, is an oral agent designed to reduce iron accumulation and inhibit abnormal protein aggregation associated with neurodegeneration. ATH434 has been shown to reduce -synuclein pathology and preserve neuronal function by restoring normal iron balance in the brain in preclinical models. As an iron chaperone, it has excellent potential to treat Parkinson's disease as well as various Parkinsonian disorders such as Multiple System Atrophy (MSA). Positive results from the randomized, double-blind, placebo-controlled Phase 2 clinical trial in patients with MSA demonstrated robust clinical efficacy, target engagement as indicated by key biomarkers, and a favorable safety profile. Positive data from a second Phase 2 open-label biomarker trial in patients with more advanced MSA reinforced these results. ATH434 has been granted Fast Track Designation by the U.S. Food and Drug Administration (FDA), and Orphan Drug Designation by the FDA and the European Commission for the treatment of MSA. 11-item UMSARS Part I (previously described as modified UMSARS I): Unified Multiple System Atrophy Rating Scale, 11-Items include: Orthostatic symptoms, Swallowing, Speech, Handwriting, Cutting food, Dressing, Hygiene, Walking, Falling, Urinary and Bowel function.

Announcement • Jun 27

Racura Oncology Doses First Patient in Harness-1 Phase 1A/B Trial of Rc220 in Combination with Osimertinib for Egfr-Mutant Non-Small Cell Lung Cancer

Racura Oncology has dosed the first patient in the HARNESS-1 Phase 1a/b trial of RC220 in combination with osimertinib for EGFR-mutant non-small cell lung cancer. The study will assess safety, pharmacokinetics, ctDNA dynamics and early clinical activity of RC220 as a strategy to address therapeutic TKI resistance. The first patient received RC220 at 50 mg/m2 by intravenous infusion. No adverse events were observed. HARNESS-1 is designed to test whether RC220, Racura's proprietary formulation of (E,E)-bisantrene, can be safely combined with osimertinib (Tagrisso; AstraZeneca), a third-generation EGFR tyrosine kinase inhibitor (TKI) and standard-of-care therapy for EGFR-mutant NSCLC to delay or prevent TKI treatment resistance. Although EGFR TKIs have transformed outcomes for many patients with EGFR-driven lung cancer, acquired treatment resistance remains a central therapeutic challenge. EGFR-mutant NSCLC is a molecularly stratified lung adenocarcinoma subtype driven by constitutive EGFR kinase signaling and initial sensitivity to EGFR inhibition. However, responses to EGFR tyrosine kinase inhibitors, including osimertinib, are typically limited by acquired resistance, arising through heterogeneous mechanisms such as secondary EGFR alterations, bypass receptor tyrosine kinase activation, MAPK/PI3K pathway reactivation, oncogenic fusions, lineage plasticity, epithelial-to-mesenchymal transition and histologic transformation. RC220 is being developed to target the non-canonical G-quadruplex DNA and RNA structures enriched in oncogenic regulatory regions, including promoters, untranslated regions and highly transcribed loci. Stabilization of these structures can disrupt transcriptional and post-transcriptional control networks that sustain malignant proliferation, including silencing the c-MYC-regulated growth and survival pathways. HARNESS-1 is designed to evaluate the safety and tolerability of RC220 with continued osimertinib-mediated EGFR suppression, while generating pharmacokinetic, pharmacodynamic, molecular response and translational biomarker data. HARNESS-1 is a multi-center Phase 1a/b clinical study in patients with EGFR-mutant NSCLC receiving osimertinib. The study includes an observational screening stage using ctDNA to help identify eligible patients and characterize tumor molecular status before treatment. The Phase 1a dose-escalation stage will evaluate RC220 administered by intravenous infusion on Day 1 of each 21-day cycle in combination with standard-of-care maintenance osimertinib. The first three dose levels will use single-patient cohorts at 50 mg/m2, 100 mg/m2 and 150 mg/m2, before progressing to larger cohorts to identify the maximum tolerated dose and an appropriate dose for further study. Between 12 and 40 patients are expected to participate in the dose-escalation stage. Following review of available safety and pharmacokinetic data, the study is expected to advance into a double-blind, randomized Phase 1b expansion stage. In this dose expansion stage, 40 patients will receive one of two RC220 dose levels in combination with osimertinib. Patients will be monitored for safety, pharmacokinetics and early signals of clinical activity, including progression-free survival, overall survival, ctDNA dynamics and changes in cancer-specific mutations. The first patient was treated by Principal Investigator Associate Professor Surein Arulananda and his team at Monash Health in Clayton, Victoria. Additional clinical trial sites are expected to open in the coming months to support patient recruitment and study progress. Further details about HARNESS-1, including open and recruiting sites, are available through the Australian and New Zealand Clinical Trial Registry at www.anzctr.org.au under trial code ACTRN12626000325303. RC220 is a proprietary formulation of (E,E)-bisantrene designed to overcome drug solubility issues that prevent safe peripheral intravenous infusion. (E,E)-bisantrene, is a clinical validated small molecule anticancer agent that primarily functions via G4-DNA and RNA binding, leading to potent transcriptional silencing of the important cancer growth regulator c-MYC.

Australian (ASX) Biotech Industry Analysis

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Latest News

Telix Pharmaceuticals Opens Melbourne Facility to Accelerate Cancer Radiopharmaceutical Production

Now 28% undervalued

Forecast to breakeven in 2028

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Amplia Therapeutics Limited Announces Publication Of New Patent Application For Chemically Novel FAK Inhibitors

CSL: Roofing Platform Repricing Will Drive Future Rebound Case

Pyc Therapeutics Limited Announces Appointment of Thomas Ulmer as Chief Financial Officer

Alterity Therapeutics Limited Receives FDA End-Of-Phase 2 Meeting Minutes Confirming Registrational Pathway For ATH434 In Multiple System Atrophy

CEO & Chairperson recently bought AU$189k worth of stock

Racura Oncology Doses First Patient in Harness-1 Phase 1A/B Trial of Rc220 in Combination with Osimertinib for Egfr-Mutant Non-Small Cell Lung Cancer

New major risk - Share price stability

New minor risk - Shareholder dilution

Consensus EPS estimates upgraded to AU$0.082 loss

New minor risk - Shareholder dilution

Radiopharm Theranostics Presents Initial Findings from Phase 1 First-In-Human HEAT Clinical Trial for 177Lu-RAD202 in HER2+ Solid Tumors at American Association for Cancer Research 2026

Cleo Diagnostics Ltd has completed a Follow-on Equity Offering in the amount of AUD 5 million.