LONDON, May 25, 2017 /PRNewswire/ --
Novogen's recent market updates presented mixed news for investors. Recruitmentin the Cantrixil Phase I is underway and preparations for the Phase II trial of GDC-0084 in glioblastoma are progressing well, although headline data are now likely in H1 CY20, 12 months later than we initially forecast. Mixed data from preclinical studies
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We revise our indicative valuation to reflect the termination of Anisina and to incorporate GDC-0084 under two different development scenarios: assuming post-Phase III approval of GDC-0084 in 2025, our valuation is $66m; assuming accelerated approval in 2021, our valuation is $111m. Our valuation prior to the GDC-0084 transaction and termination of the Anisina program was $86m ($4.95/ADR). Novogen had $14.1m cash at 31 December 2016 and we estimate that it may require $8m additional funding in FY18 and $12m in FY19.
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