Announcement • Mar 14
BenevolentAI Announces Delisting from Euronext Amsterdam Effective 13 March 2025 BenevolentAI S.A. announced that their shares will be delisted from Euronext Amsterdam effective 13 March 2025. Announcement • Feb 08
BenevolentAI S.A. Proposes Delisting from Euronext Amsterdam N.V Following the announcement on 11 December 2024 and subsequent further detailed review and evaluation, the Board of BenevolentAI S.A. has concluded that delisting from Euronext Amsterdam N.V. (“Euronext”) and transitioning to a private company is in the best interests of the Company and its shareholders. The Board determined that the financial and administrative costs of maintaining a public listing are not justified by the benefits. By eliminating the significant costs associated with its public status, including legal, regulatory, financial, and administrative overheads, the Company can redeploy this capital towards core business activities that drive innovation and product development. This aims to deliver greater value to its shareholders, partners and ultimately benefit the patients it serves. The proposed Delisting and Merger of BenevolentAI into Osaka Holdings requires passing EGM Resolutions (as defined and set out below). It is important for shareholders to understand that should any of the Resolutions fail to pass, the Delisting and Merger will not proceed. Delisting will be implemented via a merger of BenevolentAI into Osaka Holdings. Osaka Holdings is currently a private limited liability company (société à responsabilité limitée) incorporated under the laws of the Grand Duchy of Luxembourg with its registered office at 9, rue de Bitbourg, L-1273 Luxembourg. It is not listed on any exchange and has no assets and no liabilities other than its share capital which will be reduced to zero on Merger. Upon the Merger, scheduled for completion on 12 March 2025, all the Company’s assets, liabilities, rights and obligations will transfers to Osaka Holdings under universal title of succession. If the Resolutions are passed at the EGM, the Merger will become effective once both BenevolentAI and Osaka Holdings have adopted the concurring approval decisions during their respective general meetings on the same day. Consequently, it is envisaged that the Delisting will become effective on 13 March 2025. Upon Delisting, the last day of trading in the class A shares and class A warrants will be 12 March 2025. The EGM will be held on 12 March 2025. Reported Earnings • Sep 25
First half 2024 earnings released: UK£0.20 loss per share (vs UK£0.31 loss in 1H 2023) First half 2024 results: UK£0.20 loss per share (improved from UK£0.31 loss in 1H 2023). Net loss: UK£24.8m (loss narrowed 32% from 1H 2023). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Pharmaceuticals industry in Europe. New Risk • Sep 24
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: -UK£48m 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 (-UK£48m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (UK£14m net loss in 2 years). Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Market cap is less than US$100m (€87.8m market cap, or US$97.7m). New Risk • Sep 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 58% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings are forecast to decline by an average of 58% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (UK£713k net loss in 3 years). Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Market cap is less than US$100m (€96.3m market cap, or US$107.6m). Breakeven Date Change • Sep 19
Forecast to breakeven in 2026 The 4 analysts covering BenevolentAI expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 28% per year to 2025. The company is expected to make a profit of UK£713.4k in 2026. Average annual earnings growth of 58% is required to achieve expected profit on schedule. Announcement • Sep 17
BenevolentAI S.A. to Report First Half, 2024 Results on Sep 19, 2024 BenevolentAI S.A. announced that they will report first half, 2024 results on Sep 19, 2024 New Risk • Aug 22
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: UK£63m Forecast net loss in 3 years: UK£9.9m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (UK£9.9m net loss in 3 years). Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Market cap is less than US$100m (€70.2m market cap, or US$78.3m). Announcement • Jul 04
BenevolentAI S.A. Announces CFO Changes BenevolentAI S.A. announced a change to its Executive Leadership Team (ELT) following the recent Annual General Meeting and the election of a new Board of Directors. In a move to better enhance operational efficiency and strategic focus, the Board initiated a leadership review to better support BenevolentAI's ambitious growth plans. The results of the review include Ms. Catherine Isted stepping down from her role as Chief Financial Officer. Mr. Tom Holgate, who has been at BenevolentAI for nearly seven years, will continue in his role as Group Finance Director, ensuring continuity and leveraging his extensive understanding of the Company's financial landscape to lead several pivotal financial initiatives. The company is intensifying its efforts to capitalise on the expanding opportunities within the rapidly maturing 'techbio' sector. BenevolentAI's strong momentum is underscored by last week’s successful integration of a novel target in Systemic Lupus Erythematosus into AstraZeneca's portfolio, marking yet another significant milestone for the Company and the second major collaboration milestone achieved with AstraZeneca this year. The Board's review further highlighted the need to adopt a more dynamic and entrepreneurial approach across the Company’s leadership, business development activities, and internal management structures. These changes are designed to expand the Company's market share in the AI-driven drug discovery sector, accelerate the development of its internal pipelines, and forge new strategic collaborations. Major Estimate Revision • May 30
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from UK£33.6m to UK£28.2m. Forecast losses increased from -UK£0.05 to -UK£0.166 per share. Pharmaceuticals industry in the Netherlands expected to see average net income growth of 29% next year. Consensus price target down from €2.28 to €1.46. Share price fell 2.3% to €0.59 over the past week. Breakeven Date Change • May 29
Forecast to breakeven in 2026 The 3 analysts covering BenevolentAI expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 45% per year to 2025. The company is expected to make a profit of UK£1.25m in 2026. Average annual earnings growth of 63% is required to achieve expected profit on schedule. Announcement • May 03
Benevolentai S.A. Announces Directorate Changes BenevolentAI announced that all resolutions proposed at its Annual General Meeting were duly passed. In line with the AGM resolutions, Mr. Peter Allen, Mr. Kenneth Mulvany, Mr. Ian Nicholson and Mr. Jeremy Sohn, have joined the Board of the Company as Non-Executive Directors. As per the Company’s announcement of 15 April 2024, the close of the AGM has also resulted in the resignations of Dr François Nader, Dr Olivier Brandicourt, Dr Susan Liautaud and Mr. Marcello Damiani, as Non-Executive Directors of BenevolentAI, becoming effective. The Board now consists of eight persons, seven Non-Executive Directors and Dr Joerg Moeller, CEO and Executive Director of the Company. The position of the Chair of the Board and the composition of Board Committees will be determined at the time of the first board meeting and will be communicated thereafter. Announcement • Apr 15
BenevolentAI S.A. Announces Board Resignations, Effective from May 2, 2024 BenevolentAI S.A. announced that Dr. François Nader, Chair of the Board, Dr. Olivier Brandicourt, Dr. Susan Liautaud and Mr. Marcello Damiani, all Non-Executive Directors, will resign as directors of BenevolentAI effective as of the close of the Company’s AGM on 2 May 2024. Announcement • Apr 03
Kenneth Mulvany Sends a Letter to Benovelent AI On April 2, 2024, Kenneth Mulvany stated that he has sent a letter to Benovelent AI, stating that he has raised concerns about the Company's cost management, business development resourcing, strategy, investor relations and governance. In addition, Kenneth Mulvany stated that in his letter he declared his intention to nominate a slate of director candidates that aim to strengthen governance and accountability, invigorate the Company's business development, sharpen its strategic focus, offer clear market communication, and rebuild confidence among our investors and stakeholders, and this declaration paves the way for him to seek the support of shareholders at the forthcoming Annual General Meeting, for Board reform. Further, Kenneth Mulvany stated that he will be focusing the Board's efforts to prioritize stringent cost management and revenue growth, along with expanding strategic partnerships and with the support of shareholders, he prepared to take on a director role. Major Estimate Revision • Mar 26
Consensus EPS estimates upgraded to UK£0.034 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -UK£0.12 to -UK£0.034 per share. Revenue forecast unchanged from UK£33.6m at last update. Pharmaceuticals industry in the Netherlands expected to see average net income growth of 24% next year. Consensus price target down from €2.49 to €1.90. Share price was steady at €0.72 over the past week. Major Estimate Revision • Mar 22
Consensus EPS estimates fall by 231% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -UK£0.036 to -UK£0.12 per share. Revenue forecast of UK£26.7m unchanged since last update. Pharmaceuticals industry in the Netherlands expected to see average net income growth of 24% next year. Consensus price target of €2.50 unchanged from last update. Share price was steady at €0.73 over the past week. New Risk • Mar 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.8% 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 Share price has been highly volatile over the past 3 months (36% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (UK£12m net loss in 2 years). Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Market cap is less than US$100m (€89.6m market cap, or US$97.4m). Reported Earnings • Mar 18
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: UK£0.54 loss per share (improved from UK£1.50 loss in FY 2022). Net loss: UK£63.3m (loss narrowed 61% from FY 2022). Revenue missed analyst estimates by 68%. Earnings per share (EPS) also missed analyst estimates by 55%. Revenue is forecast to grow 68% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Pharmaceuticals industry in Europe. Announcement • Mar 04
BenevolentAI S.A. to Report Fiscal Year 2023 Results on Mar 14, 2024 BenevolentAI S.A. announced that they will report fiscal year 2023 results on Mar 14, 2024 Announcement • Jan 24
BenevolentAI Appoints Joerg Moeller as Chief Executive Officer BenevolentAI announced the appointment of Dr. Joerg Moeller as Chief Executive Officer and Executive Board member with immediate effect. Dr. Joerg Moeller, MD, PhD, brings a wealth of experience to BenevolentAI. During his career, he has led global research and development (R&D) organisations, successfully demonstrating innovation, commercial and operational excellence which resulted in long-term productivity and value creation. He initiated several drug discovery collaborations with artificial Intelligence (AI) platform companies and is a strong advocate of this strategy of accessing innovation. Throughout his career, Dr. Moeller has also forged strategic business development transactions through out-licensing assets as well as partnerships and is a well-known and respected figure within the target stakeholders of BenevolentAI. Most recently, Dr. Moeller served as EVP, Head of Global Research and Development and Member of the Global Leadership Team of LEO Pharma A/S (LEO). During his tenure, he re-organised and re-structured the global R&D organisation to support growth and innovation ambitions of the company. Prior to LEO Pharma Dr. Moeller was at Bayer AG (Bayer) for over 20 years where he held various executive roles culminating in his appointment as EVP, Head of Pharmaceuticals Research and Development and Member of the Executive Committee of the Pharmaceuticals Division of Bayer. He successfully managed development and global product approvals, redefined Bayer’s pipeline strategy and brought on external strategic AI collaborations. Dr. Moeller currently serves on the Board of Secura Bio, a privately-held US biotech company. He graduated as a Doctor of Medicine and holds a PhD from Ruhr University Bochum, Germany. Dr. Moeller will be based in the London headquarters of BenevolentAI. Dr. François Nader will now revert to his previous position of Independent Non-Executive Chair and will work closely with him to ensure a smooth onboarding. New Risk • Jan 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €91.6m (US$99.7m) This is considered a minor 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 Risk Share price has been highly volatile over the past 3 months (37% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (UK£24m net loss in 2 years). Market cap is less than US$100m (€91.6m market cap, or US$99.7m). New Risk • Oct 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €94.0m (US$98.7m) This is considered a minor 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: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (UK£24m net loss in 2 years). Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (€94.0m market cap, or US$98.7m). Announcement • Sep 22
BenevolentAI S.A. Announces Executive Changes BenevolentAI S.A. announced that Joanna Shields has stepped down as Chief Executive Officer to pursue other endeavors and Dr. François Nader, Chair of the Board of Directors assumes the role of Acting CEO. A search has been initiated for a new CEO. Joanna will remain a strategic advisor to the Company. Announcement • Sep 21
BenevolentAI S.A. Announces Management Changes BenevolentAI S.A. announced that Joanna Shields has stepped down as Executive Board member and Dr. François Nader, Chair of the Board of Directors assumes the role of Chair. Christina Busmalis was appointed Chief Revenue Officer, highlighting the Company’s commitment to drive revenue growth as it continues to expand its presence in the market. Major Estimate Revision • Sep 21
Consensus EPS estimates fall by 21% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -UK£0.477 to -UK£0.575 per share. Revenue forecast of UK£5.00m unchanged since last update. Pharmaceuticals industry in the Netherlands expected to see average net income growth of 19% next year. Consensus price target broadly unchanged at €2.04. Share price was steady at €0.98 over the past week. Announcement • Sep 15
BenevolentAI S.A. to Report First Half, 2023 Results on Sep 21, 2023 BenevolentAI S.A. announced that they will report first half, 2023 results on Sep 21, 2023 Announcement • Sep 12
BenevolentAI Appoints Catherine Isted as Chief Financial Officer BenevolentAI announced the appointment of Catherine Isted, ACMA, who will be joining the Company as Chief Financial Officer (CFO) with immediate effect. Catherine is an experienced strategic finance professional and chartered accountant with over 25 years within the life sciences industry. She was most recently Chief Executive Officer of ReNeuron, having previously been CFO. Prior to this, she was at Oxford Biomedica plc, at a time of significant growth for the company, where as part of the finance leadership team, she headed up Corporate Development and Investor Relations as well as worked with the Board on various strategic projects. Previously, Catherine had a successful career in leading healthcare banking teams, 12 years of which at Partner level, holding research analyst and equity sales positions at Morgan Stanley, ABN AMRO, Nomura and Peel Hunt. She started her career as a bench scientist at Merck Sharp & Dohme (MSD), before moving into their finance department as an accountant. Catherine holds a first-class Chemistry degree and is a qualified Chartered Management Accountant. Major Estimate Revision • Jun 28
Consensus revenue estimates fall by 35% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from UK£14.0m to UK£9.13m. Forecast losses increased from -UK£0.441 to -UK£0.477 per share. Pharmaceuticals industry in the Netherlands expected to see average net income growth of 12% next year. Consensus price target down from €3.70 to €3.52. Share price fell 10% to €1.40 over the past week. Announcement • Jun 21
BenevolentAI Announces Retirement of Jackie Hunter as Non-Executive Director BenevolentAI announced that Dr. Jackie Hunter is retiring from the Board as a Non-Executive Director. Dr. Jackie Hunter has served on the Board of the company since it listed in April 2022, having previously served on the board of BenevolentAI Limited since March 2016. Major Estimate Revision • Jun 18
Consensus revenue estimates decrease by 24% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from UK£18.5m to UK£14.0m. EPS estimate unchanged at -UK£0.441 per share. Pharmaceuticals industry in the Netherlands expected to see average net income growth of 13% next year. Consensus price target down from €4.25 to €3.73. Share price fell 12% to €1.56 over the past week. Announcement • Jun 06
BenevolentAI Progresses BEN-34712 for the Potential Treatment of ALS into IND-Enabling Studies BenevolentAI S.A. announces the successful delivery of its pre-clinical candidate for the potential treatment of amyotrophic lateral sclerosis (ALS), BEN-34712. BEN-34712 is an oral, potent and selective brain penetrant RAR?ß (retinoic acid receptor alpha beta) biased agonist and will now enter investigational new drug (IND)-enabling studies. Impaired retinoic acid signalling has been shown to result in neuroinflammation, oxidative stress and mitochondrial dysfunction, all hallmarks of ALS. In preclinical studies conducted by the Company, BEN-34712 was neuroprotective in a patient-derived, disease-relevant in vitro motor neuron/iAstrocyte co-culture model, demonstrating significant efficacy in both sporadic and familial subtypes of ALS. In addition, BEN-34712 has demonstrated both central nervous system (CNS) target engagement and functional protective effects in the SOD1G93A mouse model of ALS after 50-day repeat dosing. BenevolentAI collaborated with the Sheffield Institute for Translational Neuroscience (SITraN) at the University of Sheffield on this programme, utilising their patient-derived motor neuron/iAstrocyte co-culture systems and in vivo model expertise. Announcement • Jun 01
BenevolentAI Announces New Preclinical Data on Ai-Generated Target Identified in Their Ongoing Collaboration with Astrazeneca BenevolentAI announced that AstraZeneca presented new preclinical data on an AI-generated target identified in their ongoing collaboration with BenevolentAI. The data was presented at the ATS International Conference 2023. The research provides further scientific information on Serum Response Factor (SRF) as a potential target for idiopathic pulmonary fibrosis (IPF). SRF was discovered as a central pro-fibrotic mechanism using the Benevolent Platform™?, its flexible and scalable AI-enabled drug discovery engine, despite limited direct evidence linking the target with IPF. Scientists used AI tools within the Benevolent Platform™? to examine the biological rationale underpinning the target prediction and make data-driven decisions. The target underwent rigorous experimental validation by AstraZeneca using CRISPR screening in primary human lung fibroblasts and validation confirmed using SRF gene silencing (siRNA) or pharmacological SRF pathway inhibition. These data indicate that inhibition of SRF-driven transcription of pro-fibrotic genes in lung fibroblasts might deliver antifibrotic efficacy in IPF. Major Estimate Revision • May 28
Consensus revenue estimates decrease by 26%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from UK£25.0m to UK£18.5m. EPS estimate increased from -UK£0.475 to -UK£0.442 per share. Pharmaceuticals industry in the Netherlands expected to see average net income growth of 13% next year. Consensus price target down from €4.88 to €4.17. Share price was steady at €1.88 over the past week. Major Estimate Revision • Apr 27
Consensus revenue estimates fall by 38% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from UK£40.2m to UK£25.0m. Forecast losses increased from -UK£0.316 to -UK£0.475 per share. Pharmaceuticals industry in the Netherlands expected to see average net income growth of 13% next year. Consensus price target down from €5.12 to €4.79. Share price was steady at €2.00 over the past week. Major Estimate Revision • Apr 25
Consensus revenue estimates fall by 38% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from UK£40.2m to UK£25.0m. Forecast losses increased from -UK£0.316 to -UK£0.475 per share. Pharmaceuticals industry in the Netherlands expected to see average net income growth of 14% next year. Consensus price target down from €5.12 to €4.79. Share price fell 8.3% to €2.00 over the past week. Major Estimate Revision • Apr 08
Consensus revenue estimates fall by 20% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from UK£50.3m to UK£40.2m. Forecast losses increased from -UK£0.298 to -UK£0.316 per share. Pharmaceuticals industry in the Netherlands expected to see average net income growth of 17% next year. Consensus price target down from €6.19 to €5.16. Share price rose 8.2% to €2.38 over the past week. Reported Earnings • Mar 17
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: UK£1.50 loss per share. Revenue: UK£10.6m (up 128% from FY 2021). Net loss: UK£163.9m (loss widened 90% from FY 2021). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 31%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Pharmaceuticals industry in Europe. Announcement • Feb 16
BenevolentAI société anonyme to Report Fiscal Year 2022 Results on Mar 16, 2023 BenevolentAI société anonyme announced that they will report fiscal year 2022 results on Mar 16, 2023 Announcement • Dec 21
BenevolentAI Submits CTA for BEN-8744, as a First-In-Class Treatment for Ulcerative Colitis BenevolentAI ??announced it has submitted a Clinical Trial Application (CTA) to the UK Medicines and Healthcare Products Regulatory Agency (MHRA) for BEN-8744, an oral phosphodiesterase 10 (PDE10) inhibitor in development for the treatment of ulcerative colitis (UC). Subject to obtaining MHRA approval on the CTA, BenevolentAI plans to initiate a Phase I clinical trial of BEN-8744, anticipated to commence in the first half of 2023. BEN-8744 is an orally administered, peripherally restricted small molecule PDE10 inhibitor under development as a first-in-class treatment for ulcerative colitis and with the potential for other indications within inflammatory bowel disease. BEN-8744 is differentiated by its novel mechanism of action; there is an opportunity to further differentiate BEN-8744 based on safety and efficacy. PDE10 reduces intracellular levels of the signalling molecule cGMP. Restoration of cGMP levels by PDE10 inhibition is anticipated to have a direct anti-inflammatory and disease-modifying benefit. BenevolentAI will look to demonstrate that BEN-8744 is effective in treating moderate-to-severe cases of UC and with fewer side effects than the anti-TNF and JAK inhibitors that are currently the dominant form of treatment for this disease. BenevolentAI has filed for second medical use and composition of matter patents in respect of BEN-8744. BEN-8744 is a wholly owned asset in the BenevolentAI drug programme pipeline. UC is a chronic disease that causes inflammation and ulceration of the inner lining of the colon and rectum. UC affects 0.4% of the US population, and 31% of patients have moderate-to-severe disease. 20-40% of those patients with moderate-to-severe UC do not respond to anti-TNF, the main treatment approach, and currently available treatments can have severe side effects. Board Change • Dec 09
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 1 independent director. 7 non-independent directors. Independent Non-Executive Director Susan Liautaud was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Nov 21
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 1 independent director. 7 non-independent directors. Independent Non-Executive Director Susan Liautaud was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Sep 27
First half 2022 earnings released: UK£1.04 loss per share (vs UK£0 in 1H 2021) First half 2022 results: UK£1.04 loss per share (further deteriorated from UK£0 in 1H 2021). Net loss: UK£124.6m (loss widened UK£104.0m from 1H 2021). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Pharmaceuticals industry in Europe. Announcement • Aug 26
BenevolentAI société anonyme to Report First Half, 2022 Results on Sep 27, 2022 BenevolentAI société anonyme announced that they will report first half, 2022 results on Sep 27, 2022 Board Change • Jul 01
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 9 non-independent directors. Non-Executive Director Jean Raby was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 31
BenevolentAI société anonyme, Annual General Meeting, Jun 30, 2022 BenevolentAI société anonyme, Annual General Meeting, Jun 30, 2022, at 15:00 Central European Standard Time. Agenda: To consider stand-alone and consolidated financial statements of the Company for the financial year ended 31 December 2021. Announcement • May 27
BenevolentAI société anonyme Announces Board Changes BenevolentAI announced the appointment of Dr. Susan Liautaud as a member of the board of directors of the Company with effect from 30 June 2022. Dr. Susan Liautaud will act as Independent Non-Executive Director of the Company. Dr. Susan Liautaud is an experienced board director with extensive and innovative ethics experience. Susan advises global leaders and international corporations in developing strategic solutions to complex ethical and organisational challenges. She holds a PhD in Social Policy from the London School of Economics and Political Science (LSE), a JD from Columbia University Law School, two BAs and a MA from Stanford University, and a MA from the University of London SOAS. She is the author of the new book The Power of Ethics and teaches cutting-edge ethics courses at Stanford University. Susan serves on a number of boards and advisory boards, including as Chair of the Council of LSE, as member of the Stanford Institute for Human-Centered Artificial Intelligence Advisory Council, and as Vice Chair of the Global Partnership for Education. Susan's committee memberships will be determined and announced in due course. The Company also announced that Kenneth Mulvany, Founder and Non-Executive Director, and Michael Brennan Co-Founder and Non-Executive Director, will be stepping down from the Board with effect from 30 June 2022 and 30 September 2022, respectively. The Company's Nomination Committee has initiated steps to seek an additional Non-Executive Director, with any appointment to be announced in due course. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director John Orloff was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.