Clinuvel compared to Imugene, page-59

Two great Aussie Biotechs in the drug development game, Clinuvel more advanced with a FDA, EMA, TGA approved drug and Phase 3 running in a blockbuster indication while IMU running some Phase 1 and 2s. Interesting market cap valuation comparison, IMU even raised capital while burning cash fast and they don't even have a Phase 3 running yet into a blockbuster. The Clinuvel blockbuster Phase 3 for Vitiligo is also only as an added indication to an already approved drug so safety well established and process much easier than a new drug approval.

Imugene:
Revenue HY ended Dec 2023: $0
Net Loss for HY D2023: -$68.7M (loss)
CASH ON HAND $139 MILLION (end of Dec)
Market cap. 880 Million AUD

Clinuvel (CUV)
Revenue HY ended Dec 2023: $35.7M
Net Profit after tax HY D2023: $11.0M (profit)
CASH ON HAND $175 MILLION (probably ~ $180M by now)
Market cap. 700 Million AUD

Also worth noting the December half year is seasonally much weaker than the current half year with CUV. Clinuvel did achieve double digit growth (it's not like they were priced for perfection) so full year results will be a very healthy profit (~$30 - $40M) and cash pushing towards $200 Million. IMU proving much more adept at attracting investor interest than CUV despite no phase 3 like the CUV Vitiligo P3. Clinuvel really need to headhunt some talent in attracting investor interest, I will post a comparison with DISC soon who are killing CUV in valuation terms despite being years away from (possibly) entering the EPP market.


All IMO DYOR