Pharma Equity Group (One-pager): Proof-of-Concept year 2025
Investment case:
Revenue guidance of around DKK 11m in 2025 suggests management confidence in securing an attractive partnership agreement in 2025 as PEG continues clinical progress in its leading assets. The company submitted a clinical trial application for RNX-011 (Peritonitis) to the Danish Medicines Agency in February 2025 and expects to submit the application for RNX-051 (Colorectal cancer) at the beginning of Q2 2025, which our model suggests are PEG’s two highest-value assets. Reponex has also recently been strengthened with the appointments of CEO Sebastian Bo Jakobsen and CMO Professor Lars Otto Uttenthal.
Pharma Equity Group strengthened its capital position in Q4 2024 following raising DKK 51m via direct share issues to downpay debt and secure cash for operations, which were further bolstered in Jan 2025 via an additional DKK 13m loan. PEG has further reduced its cost base, with a run rate of around DKK 5-6m per quarter, extending its run rate at least 12 months forward. The company focuses on continued development and securing partnership agreements for its prioritized projects: RNX-011 for peritonitis, RNX-041 for inflammatory bowel diseases, and RNX-051 for colorectal cancer, with expectations for partnership revenue of around DKK 11 (Q3 or Q4 2025) FY2025e, relating to an agreement for either RNX-011 or RNX-51.
Disclaimer: HC Andersen Capital receives payment from Pharma Equity Group A/S (PEG) Equity Group for a Digital IR/Corporate Visibility agreement.
Claus Thestrup, 4:15 PM, 31-03-2025
Pharma Equity Group
Pharma Equity Group udvikler nye lægemidler til lokalbehandling af alvorlige og livstruende betændelsessygdomme hvor der i dag ikke findes en tilstrækkelig behandling. Selskabet benytter sig af repositionering af eksisterende lægemidler og fører lægemiddelkandidater frem til et klinisk fase III stadie hvorefter det overgives til en strategisk partner, der vil færdigudvikle produkterne og bringe dem på markedet, enten selvstændigt eller i samarbejde med selskabet.
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