Australian (ASX) Biotech Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 15 Jun 2026	AU$63.2b	AU$23.4b	AU$1.4b	20.1x	44.1x	2.7x
Wed, 13 May 2026	AU$59.5b	AU$22.8b	AU$1.4b	19.6x	43.1x	2.6x
Fri, 10 Apr 2026	AU$78.5b	AU$23.4b	AU$1.4b	24x	54.9x	3.3x
Sun, 08 Mar 2026	AU$81.8b	AU$23.5b	AU$1.4b	25.5x	57.1x	3.5x
Tue, 03 Feb 2026	AU$96.6b	AU$23.6b	AU$3.8b	19.8x	25.1x	4.1x
Thu, 01 Jan 2026	AU$95.5b	AU$24.6b	AU$4.0b	18.5x	23.8x	3.9x
Sat, 29 Nov 2025	AU$103.3b	AU$25.2b	AU$4.1b	19.6x	25x	4.1x
Mon, 27 Oct 2025	AU$116.1b	AU$25.2b	AU$4.1b	22.3x	28.1x	4.6x
Wed, 24 Sep 2025	AU$109.5b	AU$24.9b	AU$4.1b	21.3x	26.9x	4.4x
Fri, 22 Aug 2025	AU$122.1b	AU$25.3b	AU$4.3b	34.8x	28.4x	4.8x
Sun, 20 Jul 2025	AU$139.9b	AU$24.5b	AU$3.9b	39.3x	36.2x	5.7x
Tue, 17 Jun 2025	AU$129.9b	AU$24.4b	AU$3.9b	20.1x	33.7x	5.3x
Thu, 15 May 2025	AU$130.4b	AU$24.6b	AU$3.9b	20.6x	33.6x	5.3x
Sat, 12 Apr 2025	AU$126.6b	AU$25.5b	AU$4.0b	19.6x	31.3x	5x
Mon, 10 Mar 2025	AU$140.6b	AU$25.2b	AU$4.0b	22.1x	35.3x	5.6x
Wed, 05 Feb 2025	AU$150.1b	AU$24.8b	AU$3.7b	24.7x	40.5x	6.1x
Fri, 03 Jan 2025	AU$151.8b	AU$24.7b	AU$3.7b	24.4x	41x	6.1x
Sun, 01 Dec 2024	AU$150.7b	AU$23.6b	AU$3.5b	26.1x	43x	6.4x
Tue, 29 Oct 2024	AU$153.8b	AU$23.3b	AU$3.5b	27.8x	44.5x	6.6x
Thu, 26 Sep 2024	AU$150.4b	AU$22.4b	AU$3.3b	28.1x	45.5x	6.7x
Sat, 24 Aug 2024	AU$160.5b	AU$22.9b	AU$3.5b	30.2x	46.1x	7x
Mon, 22 Jul 2024	AU$162.1b	AU$22.1b	AU$3.2b	33.3x	50.1x	7.3x
Wed, 19 Jun 2024	AU$153.0b	AU$22.3b	AU$3.3b	31.5x	46.8x	6.9x
Fri, 17 May 2024	AU$148.4b	AU$22.0b	AU$3.2b	31.4x	46.2x	6.7x
Sun, 14 Apr 2024	AU$145.0b	AU$22.6b	AU$3.3b	30.4x	43.7x	6.4x
Tue, 12 Mar 2024	AU$143.3b	AU$22.2b	AU$3.2b	29.2x	44.1x	6.5x
Thu, 08 Feb 2024	AU$154.9b	AU$21.0b	AU$2.9b	35.1x	54.2x	7.4x
Sat, 06 Jan 2024	AU$146.3b	AU$20.5b	AU$2.7b	34.3x	53.8x	7.1x
Mon, 04 Dec 2023	AU$134.2b	AU$20.6b	AU$2.7b	33.9x	49.3x	6.5x
Wed, 01 Nov 2023	AU$118.3b	AU$21.5b	AU$2.9b	28.1x	41.1x	5.5x
Fri, 29 Sep 2023	AU$129.2b	AU$21.5b	AU$2.8b	29.8x	45.8x	6x
Sun, 27 Aug 2023	AU$135.1b	AU$21.4b	AU$2.6b	38.5x	51.8x	6.3x
Tue, 25 Jul 2023	AU$137.7b	AU$17.8b	AU$2.3b	37.7x	59.9x	7.7x
Thu, 22 Jun 2023	AU$146.2b	AU$17.8b	AU$2.3b	39.1x	63.8x	8.2x

Current Industry PE

Investors are relatively neutral on the Australian Biotechs industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PE ratio of 42.2x.

The 3-year average PS ratio of 5.7x is higher than the industry's current PS ratio of 2.7x.

Past Earnings Growth

The earnings for companies in the Biotechs industry have declined 14% per year over the last three years.
Meanwhile revenues for these companies have grown 9.6% per year.
This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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


AU Market	1.68%
Healthcare	1.38%
Biotech	7.67%
Biotech	7.67%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
CSL CSL	AU$107.51	9.8% +AU$4.7b	-55.0%	PE26.3x
TLX Telix Pharmaceuticals	AU$13.60	2.2% +AU$98.4m	-45.1%	PS4x
ATH Alterity Therapeutics	AU$0.49	10.0% +AU$9.8m	-10.0%	PS16.2x
TTX Tetratherix	AU$6.00	1.7% +AU$5.1m	n/a	PS152.5x
PAR Paradigm Biopharmaceuticals	AU$0.15	3.4% +AU$2.6m	-48.3%	PS9327.6x

Actinogen Medical Limited Announces Positive EMA Scientific Advice and Provides Update on Xanamem Alzheimer’s Disease Program

Actinogen Medical Limited announced the successful outcome of its scheduled scientific advice meeting (written response) on Alzheimer’s disease (AD) with the European Medicines Agency (EMA). Actinogen and the EMA reached a common understanding of the pathway to marketing approval for AD in the European Union (EU). This includes agreements related to regulatory starting materials used in drug substance synthesis, design considerations for one additional pivotal clinical trial and the limited number of ancillary clinical pharmacology trials and nonclinical studies required. Key understandings include: Agreement on the suitability of the ‘Regulatory starting materials’ for the commercial manufacturing of Xanamem (emestedastat) drug substance; Design of one additional, well-controlled, pivotal (phase 3) trial to follow a positive XanaMIA pivotal trial – both use a 10 mg dose vs. placebo; Standard total number of people to be treated with Xanamem to be described in the Marketing Authorization Application – that is, the proposed makeup of the planned safety database consistent with EMA and FDA guidelines; Small number of ancillary clinical pharmacology trials to be conducted parallel with the next pivotal trial; Small number of nonclinical studies required to further characterize safety, metabolism and excretion pathways to be conducted parallel with the next pivotal trial. The outcome reached at this meeting aligns closely with the guidance received at an earlier meeting with the FDA’s Neurology-I Division in September 2025. With the new EMA advice, Actinogen now has a clear pathway and guidance towards marketing approvals in two key pharmaceutical markets. Approvals in the US and EU also contribute to approvals in many other countries and regions. The advice from both the FDA and EMA provides regulatory clarity for ongoing discussions with potential development and marketing partners. Topline results from the randomized phase of the XanaMIA pivotal Alzheimer’s disease trial of Xanamem 10 mg vs. placebo are expected in November this year. The trial enrolled 247 participants in the US and Australia with mild to moderate Alzheimer’s disease and elevated levels of plasma pTau181. Earlier this year the Independent Data Monitoring Committee (DMC) recommended the trial continue unchanged after a confidential assessment of unblinded safety and efficacy futility data. All XanaMIA participants are now potentially eligible to extend their treatment by participation in the Open Label Extension (OLE) phase. The OLE will provide valuable data on longer-term safety and efficacy trajectories. The XanaMIA trial is intended to serve as one of two pivotal trials supporting the earliest possible marketing approvals for Xanamem in multiple regions. If the trial results are strongly positive in November, the Company will also explore expedited approval pathways with relevant regulators while commencing the new pivotal phase 3 trial. The FDA recently announced a new policy supporting approval based on a single pivotal trial with adequate supporting evidence. Xanamem’s novel mechanism of action is to control the level of cortisol in the important areas of the brain through the inhibition of the cortisol synthesis enzyme, 11ß-HSD1, without blocking normal production of cortisol by the adrenal glands. Xanamem is a first-in-class, once-a-day pill designed to deliver high levels of brain cortisol control in regions where 11ß-HSD1 is highly expressed such as the hippocampus. Chronically elevated cortisol is associated with progression in Alzheimer’s Disease and excess cortisol is known to be toxic to brain cells. Elevated cortisol is also associated with depressive symptoms. Xanamem has demonstrated excellent brain target engagement and in human trials has shown potential to slow progression of Alzheimer’s disease and improve depressive symptoms in patients with moderately severe depression. Xanamem is an investigational product and is not approved for use outside of a clinical trial by the FDA or by any global regulatory authority.

Australian (ASX) Biotech Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Telix Pharmaceuticals Awaits Key FDA Decision on Brain Cancer Drug Pixclara

CSL Faces Reset With Lower Outlook US$5 Billion Impairments and Cost Savings Drive

Consensus EPS estimates upgraded to AU$0.082 loss

Racura Oncology Ltd has completed a Follow-on Equity Offering in the amount of AUD 0.999999 million.

Patrys Limited has filed a Follow-on Equity Offering in the amount of AUD 0.05 million.

CUV: EMA Feedback On Phase III Vitiligo Trial Will Support Future Upside Potential

ARX: Positive Trial Results Will Underpin Future Earnings Power

New major risk - Market cap size

New minor risk - Shareholder dilution

Actinogen Medical Limited Announces Positive EMA Scientific Advice and Provides Update on Xanamem Alzheimer’s Disease Program

Phase III research update, interview with Dr. Rennie

Cynata Therapeutics Limited has completed a Follow-on Equity Offering in the amount of AUD 1.5 million.

Mesoblast Limited Achieves Patient Recruitment Target in Pivotal Phase 3 Trial for Chronic Low Back Pain

Orthocell Limited Secures Approval for Remplir Nerve Repair Device to Be Used Across United States Department of Defence and Veterans Affairs Hospital Networks

New minor risk - Profitability

New major risk - Negative shareholders equity