Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. CEO, MD & Director James Garner was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 16
Percheron Therapeutics Limited has filed a Follow-on Equity Offering in the amount of AUD 2.174875 million. Percheron Therapeutics Limited has filed a Follow-on Equity Offering in the amount of AUD 2.174875 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 434,975,053
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Rights Offering Breakeven Date Change • Dec 24
No longer forecast to breakeven The analyst covering Percheron Therapeutics no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of AU$6.18m in 2027. New forecast suggests the company will make a loss of AU$29.5m in 2027. New Risk • Aug 31
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: AU$1.4m (US$936k) This is considered a major risk. Companies with a small amount of revenue 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 Less than 1 year of cash runway based on free cash flow trend (-AU$16m free cash flow). Earnings have declined by 22% per year over the past 5 years. Revenue is less than US$1m (AU$1.4m revenue, or US$936k). Market cap is less than US$10m (AU$12.0m market cap, or US$7.83m). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Aug 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$16m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$16m free cash flow). Earnings have declined by 22% per year over the past 5 years. Market cap is less than US$10m (AU$12.0m market cap, or US$7.83m). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Revenue is less than US$5m (AU$1.8m revenue, or US$1.2m). Announcement • Aug 28
Percheron Therapeutics Limited, Annual General Meeting, Oct 22, 2025 Percheron Therapeutics Limited, Annual General Meeting, Oct 22, 2025. Breakeven Date Change • Feb 05
No longer forecast to breakeven The 2 analysts covering Percheron Therapeutics no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$6.18m in 2027. New consensus forecast suggests the company will make a loss of AU$2.33m in 2027. Announcement • Nov 26
Percheron Therapeutics Limited has completed a Follow-on Equity Offering in the amount of AUD 13.01854 million. Percheron Therapeutics Limited has completed a Follow-on Equity Offering in the amount of AUD 13.01854 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 135,231,746
Price\Range: AUD 0.08
Discount Per Security: AUD 0.0048
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,500,000
Price\Range: AUD 0.08
Discount Per Security: AUD 0.0048
Transaction Features: Subsequent Direct Listing Announcement • Nov 15
Percheron Therapeutics Limited has completed a Follow-on Equity Offering in the amount of AUD 0.185287 million. Percheron Therapeutics Limited has completed a Follow-on Equity Offering in the amount of AUD 0.185287 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,160,916
Price\Range: AUD 0.008 New Risk • Nov 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Revenue is less than US$5m (AU$3.0m revenue, or US$1.9m). Market cap is less than US$100m (AU$88.1m market cap, or US$57.7m). Announcement • Oct 23
Percheron Therapeutics Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million. Percheron Therapeutics Limited has filed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,000,000
Price\Range: AUD 0.08 Announcement • Oct 18
Percheron Therapeutics Limited has filed a Follow-on Equity Offering in the amount of AUD 13.01854 million. Percheron Therapeutics Limited has filed a Follow-on Equity Offering in the amount of AUD 13.01854 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 135,231,746
Price\Range: AUD 0.08
Discount Per Security: AUD 0.0048
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,500,000
Price\Range: AUD 0.08
Discount Per Security: AUD 0.0048
Transaction Features: Subsequent Direct Listing Breakeven Date Change • Oct 10
Forecast to breakeven in 2027 The 3 analysts covering Percheron Therapeutics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$6.18m in 2027. Average annual earnings growth of 10% is required to achieve expected profit on schedule. Board Change • Jan 30
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Chair Charmaine Gittleson is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 17
Antisense Therapeutics Limited, Annual General Meeting, Nov 15, 2023 Antisense Therapeutics Limited, Annual General Meeting, Nov 15, 2023, at 14:00 AUS Eastern Standard Time. Location: Minter Ellison, Collins Arch Level 20 447 Collins Street Melbourne VIC 3000 Melbourne Australia Agenda: To receive and consider the Annual Financial Report of the Company for the year ended 30 June 2023 (2023 Annual Report), comprising the Financial Report, the Directors' Report, and the Auditor's Report; to consider Non-Binding Resolution to Adopt the 2023 Remuneration Report; to consider Re-Election of Director Dr. Charmaine Gittleson; to consider Ratification of Prior Issue of Shares to Institutional Investors; to consider Approval for issue of Options to Dr. James Garner; to consider Approval of Employee Share Option Plan; to consider Approval for issue of Options to Dr. Charmaine Gittleson; to consider Approval of change of Company name and modification of Constitution; and to consider Approval of 10% Placement Facility. New Risk • Aug 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$6.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.8m free cash flow). Earnings are forecast to decline by an average of 37% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$21m net loss in 2 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Revenue is less than US$5m (AU$2.0m revenue, or US$1.3m). Market cap is less than US$100m (AU$42.7m market cap, or US$27.7m). New Risk • Jul 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 40% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$25m net loss in 2 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Revenue is less than US$5m (AU$2.0m revenue, or US$1.4m). Market cap is less than US$100m (AU$46.0m market cap, or US$31.0m). New Risk • Jul 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 40% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$25m net loss in 2 years). Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (AU$2.0m revenue, or US$1.4m). Market cap is less than US$100m (AU$40.8m market cap, or US$27.9m). Announcement • Jun 29
Antisense Therapeutics Limited Receives MHRA Approval for ATL1102 Phase IIb DMD Clinical Trial in UK Antisense Therapeutics Limited announced that it has received both regulatory authority and ethics committee approval to conduct its double-blind, placebo controlled Phase IIb trial of ATL1102 in non-ambulant boys with Duchenne muscular dystrophy (DMD) in the United Kingdom (UK). Following these approvals, requisite contracts are anticipated to be finalised for initiation of trial sites, expected during third quarter current year 2023. Announcement • Feb 15
Antisense Therapeutics Limited Receives Regulatory Authority Approval from the Turkish Medicines and Medical Device Agency Antisense Therapeutics Limited announced that it has received regulatory authority approval from the Turkish Medicines and Medical Device Agency (TMMDA) to conduct its double-blind, placebo controlled Phase IIb trial of ATL1102 in non-ambulant boys with Duchenne muscular dystrophy (DMD). As previously advised, the Company had submitted a Clinical Trial Application (CTA) for approval to conduct the Phase IIb trial in UK, Bulgaria and Turkey. This first trial approval by a regulatory authority is an important milestone for the Company in affirming the quality and acceptability of the Phase IIb trial design and critically, in providing the `green light' for trial initiation at expected high patient enrolling sites. The Phase IIb study aims to enrol and randomize 45 non-ambulant boys with DMD from multiple clinical trial sites in Europe and Australia. Following the initial six-month regimen of either placebo, 25 mg or 50 mg ATL1102 once weekly (blinded phase), participants will continue into a further six-month open label treatment period. Trial approvals in Bulgaria, the UK and Australia are expected to come through in a staggered manner depending on the respective regulatory agencies' evaluation process and timelines. The Company will make further announcements as and when material progress updates emerge. As per previous guidance, reporting of the results from the blinded phase of the trial is anticipated in First half of 2024. Announcement • Feb 03
Antisense Therapeutics Limited Reports Initial Positive Muscle Functional Data from A DMD Antisense Therapeutics Limited reported initial positive muscle functional data from a DMD mdx animal study assessing the use of the combination of antisense (ASO) to CD49d with a dystrophin exon skipping restoration drug. The use of the combination improved the specific maximum force of the extensor digitorum longus (EDL) muscle, a lower leg muscle, and the eccentric muscle force remaining following induced damage to the EDL. This functional data supports the potential use of ATL1102 in combination with dystrophin restoration drugs to improve therapeutic outcomes in patients with DMD. Under the collaborative research agreement with the Murdoch Children's Research Institute's (MCRI), six groups of DMD mdx mice (n=8 per group) were treated for 6 weeks with antisense oligonucleotide to CD49d (mouse equivalent of ATL1102), or control oligonucleotide mismatch or saline treatments, or the morpholino exon skipping dystrophin restoration drug alone and in combination. The muscle physiology of the EDL was assessed for force parameters including specific maximum force and the force drop following 1 to 10 eccentric (lengthening) contraction each involving induced muscle damage by the stretching of the muscle by 10%. The EDL is 1 of 4 muscles in the front of the lower leg whose function is to invert the foot at the ankle. Another of these muscles is the tibialis anterior (TA) on which the ASO to CD49d has previously reported a benefit in reducing eccentric muscle damage in mdx mice. The ASO to CD49d and morpholino exon skipping combination improved the specific maximum force (the maximum force corrected for size/mass and cross-sectional area of the EDL muscle) and both the eccentric muscle force remaining after a single and 10 repeated lengthening contractions with statistically significant effects compared to saline control. This combination after the 10 repeated lengthening contractions, also showed a significant effect (P<0.001) compared to the exon skipping drug used alone and the exon skipping drug used together with the control oligo. In addition, the ASO to CD49d showed a significant effect vs the saline and its control oligo. The morpholino exon skipping drug showed a significant effect compared to the saline control. A provisional patent application titled "Combination Compositions and Methods for Treatment of Muscular Dystrophy" is to be filed to cover the use of the ASO to CD49d and the morpholino exon skipping drug combination to seek protection of the combination of ATL1102 with the dystrophin restoration/exon skipping drugs to 2044, well beyond the patent life of the registered dystrophin restoration drugs. Notably the dystrophin restoration drugs have yet to demonstrate in controlled clinical studies a slowing of the loss of ambulation beyond use of corticosteroids, highlighting the clinical need for a more efficacious therapeutic approach.Further investigations are ongoing in the mdx mouse combination study to determine the possible mechanisms by which the combination approach is providing the observed functional benefits. Muscle RNA and protein samples have been isolated from the mdx mice quadricep muscle for analysis of the dystrophin levels in the muscle to determine if higher levels are seen with the use of the combination than with the dystrophin restoration agent alone. Cellular markers of inflammation and fibrosis including those observed in the ATL1102 DMD Phase II study, will also be assessed to elucidate the potential mechanisms that may be involved. Results from this analysis are anticipated before the end of the first quarter of current year 2023. Board Change • Nov 23
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Chair Charmaine Gittleson was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 02
Full year 2022 earnings released: AU$0.009 loss per share (vs AU$0.015 loss in FY 2021) Full year 2022 results: AU$0.009 loss per share (up from AU$0.015 loss in FY 2021). Net loss: AU$5.81m (loss narrowed 28% from FY 2021). Over the next year, revenue is forecast to grow 18%, compared to a 662% growth forecast for the Pharmaceuticals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Breakeven Date Change • Aug 27
Forecast to breakeven in 2024 The 2 analysts covering Antisense Therapeutics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$21.1m in 2024. Average annual earnings growth of 61% is required to achieve expected profit on schedule. Is New 90 Day High Low • Jan 15
New 90-day high: AU$0.20 The company is up 52% from its price of AU$0.14 on 16 October 2020. The Australian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 12% over the same period. 