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Recce Pharmaceuticals is a clinical-stage Australian company that is developing synthetic polymers to create new anti-infective drugs that can treat antibiotic-resistant bacteria and viral pathogens. Its lead candidate, R327, is an IV formulation that could potentially treat antibiotic-resistant and life-threatening infections such as sepsis. It has a unique and multifaceted mechanism of action that is yet to show any signs of resistance formation even after multiple bacterial replications. Recce Pharma is currently the only company with a clinical-stage antibiotic drug candidate for sepsis. The company is developing a spray-on topical formulation of R327 for treating burn wound infections and mild diabetic foot infections. Another pipeline candidate, R435, is an oral polymer formulation still in preclinical development. Recce Pharma recently received regulatory approval to begin a phase I/II clinical study in diabetic foot infections. The company’s valuation is A$497m or A$2.79/share, which is based on a risk-adjusted net present value of R327’s IV formulation in sepsis and complicated/recurrent UTIs and of the topical spray formulation of R327 in burn wound infections and mild diabetic foot infections.
The company is expected to start commercializing R327 in the United States, Europe, and Australia in CY28, with most of the value being ascribed to the sepsis indication due to the substantial unmet need in the area.
RCE Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held
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