Someone mentioned Pro Medicus. Let's compare the pair of great Aussie Biotechs, both are rarities in that they are continually growing revenues and profits albeit PME at a faster rate, but not dramatically more. Clinuvel are generating their profits on a very small indication and the FDA approved drug is looking for label expansion into a blockbuster indication via phase 3 trial which they showed some remarkable photos from last month. Clinuvel forecasts for Vitiligo would dwarf the current PME financials easily but CUV are priced as if that will never occur despite Phase 3 photos looking great and safety already well established, likewise an Ozempic potential real tanning photocosmetic announced for next year not even priced for one cent of revenue. This comparison is PME's first half year results just released to CUV's full year results from 6 months ago for an interesting side by side valuation. I can see why Jefferies just put a $39.20 price target on CUV, they definitely look undervalued with their P/E approaching 10 (with cash removed) compared to PME with a gargantuan P/E of ~ 350. Shorting also not really an issue at PME.
Pro Medicus: Revenue 1HY2025:$97.2 Million (up 31%) Profit after tax. $51 M CASH ON HAND$182 MILLION
Market cap. 29 Billion AUD SHORTING 1.3 %
Clinuvel (CUV) Revenue FY2024:$95 Million (up 15%) Net Profit after tax FY2024:$35.6M (profit) CASH ON HAND$200 MILLION and growing all the time
Market cap. 0.56 Billion AUD SHORTING 7.3 %
All IMO DYOR
CUV Price at posting:
$11.29 Sentiment: Buy Disclosure: Held
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