Orchard Therapeutics plc

NasdaqCM:ORTX Aktierapport

Börsvärde: US$380.1m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Orchard Therapeutics Tidigare resultatutveckling

Tidigare kriterier kontrolleras 0/6

Orchard Therapeutics har ökat intäkterna med en genomsnittlig årlig takt på 12.3%, medan Biotechs -branschen såg intäkterna växande på 33.8% årligen. Intäkterna har varit växande med en genomsnittlig takt på 57.1% per år.

Viktig information

12.31%

Tillväxttakt i vinsten

63.63%

Tillväxttakt för EPS

Biotechs Tillväxt i branschen17.04%
Intäkternas tillväxttakt57.07%
Avkastning på eget kapital-90.86%
Nettomarginal-333.90%
Senaste uppdateringen av resultatet30 Sep 2023

Senaste uppdateringar av tidigare prestationer

Recent updates

Seeking Alpha • Jan 19

Orchard Therapeutics: Still An Attractive Merger Arbitrage Opportunity With A CVR

Summary Orchard is trading slightly above the offered cash value at $16.44. Market ascribes $0.44 out of maximum value of $1 to CVR. This appears rich but may actually undervalue the instrument that's likely to pay out within the year. Read the full article on Seeking Alpha
Analysartikel • May 09

Revenues Working Against Orchard Therapeutics plc's (NASDAQ:ORTX) Share Price

With a price-to-sales (or "P/S") ratio of 4.7x Orchard Therapeutics plc ( NASDAQ:ORTX ) may be sending very bullish...
Analysartikel • Mar 10

Is Orchard Therapeutics (NASDAQ:ORTX) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Seeking Alpha • Aug 19

Orchard Therapeutics: Gene Therapy For Rare Child Disease

Orchard Therapeutics has become interesting after its 78% dip plus the fact that a large investment fund quadrupled its position in the stock. The company has commercialized gene therapy to combat MDL, which inflicts children. A competitive analysis reveals the strength of the U.K. based biotech. However, there are weaknesses too. This loss-making entity comes at less than $1/share and below a $100 million market cap. The therapy remains expensive. Still, at such a price and given the cash position which should last into 2024, together with the restructuring plan, this is a stock to watch for an eventual FDA approval. I became interested in ORTX after Singapore's Temasek Holdings or the country's biggest and state-owned investment fund boosted its holdings of Orchard Therapeutics Plc (ORTX) from 1 million to 4.32 million shares at around $0.58 in the second quarter of this year. They may have bought the May dip as per in the chart below, but the stock remains down, by 78% during the last year. This downtrend suggests that there is a low demand for its shares by investors, probably as profit margins are all negative and revenues for the second quarter of 2022 (Q2) have decreased to $4.4M from $5.5M on a sequential or quarter-to-quarter basis. ORTX data by YCharts However, it has been improving revenues on a year-on-year basis, which signifies some progress in its products and services. Thus, the aim of this thesis is to provide further analysis, and I start by providing an overview of Orchard's therapy. Libmeldy to Combat MDL Orchard specializes in treating metachromatic leukodystrophy ("MDL") which is characterized by mutations in the ARSA gene in turn leading to a reduction in related enzyme activity in affected children. This is a very rare genetic disease that can be fatal as it causes neurological damage and regression in cognitive (brain) development. It appears either at the late infantile or early juvenile stage, sometimes without any early clinical manifestations (symptoms) of the disease, but, in other cases, it entails cognitive decline or memory loss. In its most severe and common forms, young children quickly lose the ability to walk and interact with people around them, and many die before adolescence. MDL and Gene therapy (seekingalpha.com) As a solution, Libmeldy also referred to as OTL-200 is the first European-approved therapy for patients with early-stage MLD who meet certain clinical eligibility criteria. In Europe, it was approved by the European Medicines Agency ("EMA") in December 2020, making it the first and only approved treatment for this disease as there is no FDA-approved equivalent currently. For this matter, Orchard is working with the FDA and anticipates approval for 2023, but, it is also important to consider alternative treatments. Alternative Treatments Libmeldy is a gene-based therapy that is based first on harvesting stem cells from the blood of patients. The next step is to modify them in order to replace the defective ARSA gene I mentioned earlier with a functional version. The final step is re-introduction into the body in a single intravenous infusion. This makes it less invasive for patients compared to alternatives or more classical treatment methods for combating MLD, ranging from bone marrow, stem cell transplant, or cord blood. Also, these are still undergoing development and can only slow the progression of the disease, not stop it. In these circumstances, one would think that with the FDA approving Libmeldy in 2023 for the highly-lucrative U.S. market, Orchard would suddenly start to reap a lot of sales. However, it is more complicated. First, one problem with Libmeldy is its high cost of £2.8 million ($3.37 million), a reason why it has been labeled as the "World's most expensive drug" after it was approved by the U.K.'s NHS or National Health Service. Thus, given that its revenues are around $5 million, this means that it has only been able to sell only one to two therapies. Second, in the U.S., there are also other emerging therapies some of which are based on enzyme replacement developed by ArmaGen Technologies. There are also other gene-based therapies being developed, but most of these are in the preclinical phase. Even then, these alternative therapies are being continuously developed as they have the capability to address different forms of the disease, not necessarily in its most severe form. At the same time, the classical treatments I mentioned earlier are also being refined in order to be rendered less invasive and can for example be used to treat motor function problems for children inflicted by MDL while leaving the cognitive part to more expensive gene therapy. Therefore, while it does not face competition, Libmeldy's high price means that Orchard will not rapidly capture market share, but rather see a gradual progression in sales, somewhat similar to the progression of its quarterly income figures since 2020 unless it finds some way to reduce prices and get more volume sales. Revenue and Profitability To deliver on revenue growth for Libmeldy in Europe, Orchard has secured agreements with health authorities in Germany, Italy, and the UK, for facilitating access and reimbursement for eligible patients. Currently, patient identification is in progress, and Orchard's therapy is being assessed for reimbursement purposes in France, Spain, Belgium, Netherlands, Luxembourg, Austria, Finland, Norway, and Sweden. According to Orchard's SEC filings, this will deliver more treatments in the second half of this year compared to the first one. Thus, H2-2022 should see more revenues than the $8.84 million for the first half as per the table below. In addition to Libmeldy for MDL, Orchard has another product approved in the EU, which is Strimvelis. This is another gene therapy for the treatment of ADA-SCID, a condition whereby the body's defenses stop working because of a deficiency in the genes. Thus, out of the total revenue of $3.8 million from product sales for Q2, $0.6 million was from Strimvelis and the rest from Libmeldy. Statement of operations (www.seekingalpha.com) As for expenses, these included the cost of product sales of $1.1 million, including manufacturing and royalties paid to third parties. Additionally, R&D expenses of $22.0 million for Q2, were up only by $0.2 million for the same period in 2021 with the expectation being for costs to decline in the H2-2022 due to updating of the research portfolio and associated workforce reduction as part of a restructuration. In this respect, in addition to lab work and clinical trials, R&D also includes costs pertaining to regulatory activities in order to get Libmeldy approved in the U.S, including commercialization efforts for a potential launch in 2023. Thanks to the restructuring-related savings, the company was able to reduce operating expenses by $0.8 million in Q2, thereby reducing losses. I find this cost reduction rationale as opposed to a business-as-normal strategy to be more aligned to the current high wage inflation impacting the U.K. where Orchard is based. Such an approach allows the company to use existing cash and not increase debt levels. Valuations and Risks Another positive is collaboration revenue of $0.6 million for OTL-105 with Pharming Group N.V. (NASDAQ:PHAR) in exchange for R&D work covering stem cell gene therapy for the treatment of hereditary angioedema, a life-threatening rare disorder. This shows that Orchard has a rich pipeline with other therapies at the preclinical, clinical, and regulatory levels (diagram below) which it can monetize as part of collaborations.
Seeking Alpha • Aug 04

Orchard Therapeutics GAAP EPS of -$0.40 misses by $0.14, revenue of $4.37M beats by $1.19M

Orchard Therapeutics press release (NASDAQ:ORTX): Q2 GAAP EPS of -$0.40 misses by $0.14. Revenue of $4.37M beats by $1.19M.
Seeking Alpha • Jan 20

Orchard Therapeutics: Shadow Of Former Glory

ORTX has fallen to a tenth of its mid-2020 value. No specific catastrophe, just a slow erosion of the company, has caused this. Prices are low enough to be attractive, but I will still stay neutral and wait for some derisking event before taking a call.
Seeking Alpha • Aug 16

Orchard Therapeutics: Cutting-Edge Science Beset With A Pioneer's Typical Hurdles

ORTX is a developer of autologous gene therapies for rare diseases. Recent regulatory updates have taken the stock down. While there's a lot of promise in science, we will stay on the sidelines.
Analysartikel • Jun 14

Orchard Therapeutics (NASDAQ:ORTX) Has Debt But No Earnings; Should You Worry?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysartikel • Feb 03

What Is The Ownership Structure Like For Orchard Therapeutics plc (NASDAQ:ORTX)?

If you want to know who really controls Orchard Therapeutics plc ( NASDAQ:ORTX ), then you'll have to look at the...
Analysartikel • Jan 08

Is Orchard Therapeutics plc (NASDAQ:ORTX) Trading At A 26% Discount?

How far off is Orchard Therapeutics plc ( NASDAQ:ORTX ) from its intrinsic value? Using the most recent financial data...
Analysartikel • Dec 11

Reflecting on Orchard Therapeutics' (NASDAQ:ORTX) Share Price Returns Over The Last Year

The nature of investing is that you win some, and you lose some. Anyone who held Orchard Therapeutics plc ( NASDAQ:ORTX...

Fördelning av intäkter och kostnader

Hur Orchard Therapeutics tjänar och spenderar pengar. Baserat på senast rapporterade resultat, på rullande tolvmånadersbasis.

Resultat- och intäktshistorik

NasdaqCM:ORTX Intäkter, kostnader och resultat (USD Millions )
DatumIntäkterIntäkterG+A KostnaderFoU-kostnader
30 Sep 2322-73440
30 Jun 2321-85440
31 Mar 2318-124470
31 Dec 2223-151490
30 Sep 2216-179510
30 Jun 2212-168530
31 Mar 227-154530
31 Dec 212-145540
30 Sep 211-142570
30 Jun 212-12657-50
31 Mar 213-13758-25
31 Dec 203-152610
30 Sep 203-1646331
30 Jun 203-18065109
31 Mar 203-18363125
31 Dec 193-16357117
30 Sep 193-14351237
30 Jun 192-14044103
31 Mar 192-24638214
31 Dec 182-23031205
30 Sep 181-2192165
30 Jun 180-19816182
31 Mar 180-48936
31 Dec 170-40633

Kvalitetsintäkter: ORTX är för närvarande olönsam.

Växande vinstmarginal: ORTX är för närvarande olönsam.

Fritt kassaflöde vs resultatanalys

Analys av tidigare vinsttillväxt

Resultatutveckling: ORTX är olönsam, men har minskat förlusterna under de senaste 5 åren med en hastighet av 12.3% per år.

Accelererande tillväxt: Det går inte att jämföra ORTX s intäktstillväxt under det senaste året med dess 5-åriga genomsnitt eftersom det för närvarande är olönsamt

Resultat vs industri: ORTX är olönsam, vilket gör det svårt att jämföra det senaste årets vinsttillväxt med Biotechs branschen ( 43% ).

Avkastning på eget kapital

Hög ROE: ORTX har en negativ avkastning på eget kapital ( -90.86% ), eftersom det för närvarande är olönsamt.

Avkastning på tillgångar

Avkastning på sysselsatt kapital

Upptäck starka bolag som tidigare presterat bra

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Företagsanalys och finansiella data Status

UppgifterSenast uppdaterad (UTC-tid)
Analys av företag2024/01/24 17:55
Aktiekurs vid dagens slut2024/01/24 00:00
Intäkter2023/09/30
Årlig intjäning2022/12/31

Datakällor

Den data som används i vår företagsanalys kommer från S&P Global Market Intelligence LLC. Följande data används i vår analysmodell för att generera denna rapport. Data är normaliserade vilket kan medföra en fördröjning från det att källan är tillgänglig.

PaketUppgifterTidsramExempel US-källa
Företagets finansiella ställning10 år
  • Resultaträkning
  • Kassaflödesanalys
  • Balansräkning
Analytikernas konsensusuppskattningar+3 år
  • Prognos för finansiella poster
  • Analytikernas prismål
Marknadspriser30 år
  • Aktiekurser
  • Utdelningar, splittar och åtgärder
Ägarskap10 år
  • Största aktieägare
  • Insiderhandel
Förvaltning10 år
  • Ledningsgrupp
  • Styrelse och verkställande direktörer
Viktiga utvecklingstendenser10 år
  • Företagsmeddelanden

* Exempel för amerikanska värdepapper, för icke-amerikanska värdepapper används motsvarande regelverk och källor.

Om inget annat anges är all finansiell data baserad på en årsperiod men uppdateras kvartalsvis. Detta kallas data för efterföljande tolv månader (TTM) eller senaste tolv månader (LTM). Lär dig mer om detta.

Analysmodell och snöflinga

Detaljer om analysmodellen som användes för att skapa den här rapporten finns på vår Github-sida, vi har också guider om hur du använder våra rapporter och tutorials på Youtube.

Lär dig mer om det team i världsklass som utformade och byggde analysmodellen Simply Wall St.

Industri- och sektormått

Våra bransch- och sektionsmått beräknas var sjätte timme av Simply Wall St, detaljer om vår process finns tillgängliga på Github.

Källor för analytiker

Orchard Therapeutics plc bevakas av 9 analytiker. 3 av dessa analytiker lämnade de uppskattningar av intäkter eller resultat som användes som indata till vår rapport. Analytikernas inskickade estimat uppdateras löpande under dagen.

AnalytikerInstitution
Charles DuncanCantor Fitzgerald & Co.
Emma NealonCantor Fitzgerald & Co.
Graig SuvannavejhGoldman Sachs