Continues its plans as expected; Ministry of Health approval for central experiment; financing is required to continue operations at the beginning of 2020; received Orphan Drug Designation from the FDA; target price unchanged.
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Summary of Highlights (read the full report here)
The Company reports using the "small company" model and therefore does not publish financial statements for the first quarter.
In our opinion, the change in managment in the company is not expected to affect the company's operations.
In Frost and Sullivan's immediate report on October 10, 2018 we present the company's latest raise of capital:
$5.15 million in capital was raised at a price of NIS 0.65. In addition warrants were realized providing an additional NIS 3.6M to the company.
Kadimastem is included in the TASE Indices
On November 27, 2018, Kadimastem received an announcement from the TASE, that it will be included in the TASE Growth Index, the TASE Biomed Index and the TASE Global BlueTech Index. The company will be included in the indices starting December 6, 2018.
During 2018, the Company had no income; loss amounted to NIS 24 million compared to the corresponding period in 2017, in which loss amounted to NIS 21.5 million
Clinical Developments:
We maintain the company's value in NIS 97M; Target price range remains between NIS 1.03 and NIS 1.21, an average of NIS 1.12.
Read the full report here.
About the company
Kadimastem Ltd. (hereinafter "Kadimastem" or "the company") is a clinical stage biopharmaceutical company that specializes in regenrative therapies and that has two stem cell based therapies in research phase: 1. AstroRx (astrocytes- support cells of the central nervous system) for the treatment of ALS and 2. Encapsulin (insulin secreting cells) for the treatment of diabetes. Both products were developed on the back of the company's embryonic stem cell differentiation platform which has the potential to treat additional diseases.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us at equity.research@frost.com