Healthcare Specialist

Winnie Wong

Equity Bottom-Up

<p>Alzheimer’s disease is an incurable neurodegenerative disorder that robs the affected individuals of memory, self-care and quality of life, resulting in major physical, emotional and economic burdens for their families.  </p><p>There is currently no cure or disease-modifying drugs available for this disease.  This presents drug manufacturers with ample opportunities as the search for a cure and better treatment continues.  However, Alzheimer's drugs have one of the highest clinical trial failure rates at 99.6%.  The competition is also intense with over 90 Phase II and III drug candidates racing to obtain an approval in this category.</p><p><a href="https://www.smartkarma.com/entities/18033" target="_blank" data-smartkarma-citation="entities:18033:1">Actinogen Medical Ltd (ACW AU)</a> is an Australian listed biotech that focuses on the development of a Phase II Alzheimer's disease drug candidate called Xanamen, which is a disease-modifying therapy that could potentially reduce the cognitive decline in patients with the disease.  The company is run by Dr Bill Ketelbey, who previously led the development and commercialisation of the current market-leading Alzheimer's drug, Aricept, for <a href="https://www.smartkarma.com/entities/1131" target="_blank" data-smartkarma-citation="entities:1131:1">Pfizer Inc (PFE US)</a>.</p><p>In this insight, we will discuss Actinogen's approach to tackling the disease.  We will also evaluate the Alzheimer's drug development industry and competition within that space, and analyse Xanamen and its clinical design, IP and pipeline.  Finally, we will discuss Actinogen's new board and management, the company's valuation, recent deal comparison and upcoming catalysts.</p>

Alzheimer’s disease is an incurable neurodegenerative disorder that robs the affected individuals of memory, self-care and quality of life, resulting in major physical, emotional and economic burdens for their families.  There is currently no cure or disease-modifying drugs available for this disease.  This presents drug manufacturers with ample opportunities as the search for a cure and better treatment continues.  However, Alzheimer's drugs have one of the highest clinical trial failure rates at 99.6%.  The competition is also intense with over 90 Phase II and III drug candidates racing to obtain an approval in this category.Actinogen Medical Ltd (ACW AU) is an Australian listed biotech that focuses on the development of a Phase II Alzheimer's disease drug candidate called Xanamen, which is a disease-modifying therapy that could potentially reduce the cognitive decline in patients with the disease.  The company is run by Dr Bill Ketelbey, who previously led the development and commercialisation of the current market-leading Alzheimer's drug, Aricept, for Pfizer Inc (PFE US).In this insight, we will discuss Actinogen's approach to tackling the disease.  We will also evaluate the Alzheimer's drug development industry and competition within that space, and analyse Xanamen and its clinical design, IP and pipeline.  Finally, we will discuss Actinogen's new board and management, the company's valuation, recent deal comparison and upcoming catalysts.

Thematic (Sector/Industry)

<div class="content-highlight"><p><strong>The Aussie Healthcare Daily</strong> is a summary of major news and announcements from ASX-listed healthcare companies as well as developments and trends in the healthcare industry.</p></div><div><h2>Market Highlights</h2></div><div>
<table class="table table-striped"><tbody>
<tr>
<td>Index</td>
<td>% Price Change</td>
</tr>
<tr>
<td>S&amp;P/ASX All Ordinaries</td>
<td>-0.08%</td>
</tr>
<tr>
<td>S&amp;P/ASX 200</td>
<td>-0.07%</td>
</tr>
<tr>
<td>ASX Small Ordinaries</td>
<td>-0.18%</td>
</tr>
<tr>
<td><strong>S&amp;P/ASX 200 Health Care</strong></td>
<td><strong>-0.22%</strong></td>
</tr>
<tr>
<td>Top Gainer in the ASX200 Health Care index: <a href="https://www.smartkarma.com/entities/10365" target="_blank" data-smartkarma-citation="entities:10365:1">Sirtex Medical Ltd (SRX AU)</a>
</td>
<td>1.32%</td>
</tr>
<tr>
<td>Top Loser in the ASX200 Health Care index: <a href="https://www.smartkarma.com/entities/3831" target="_blank" data-smartkarma-citation="entities:3831:1">Nanosonics Ltd (NAN AU)</a>
</td>
<td>-1.88%</td>
</tr>
<tr>
<td>Top by Volume in the ASX200 Health Care</td>
</tr>
</tbody></table>…</div>

The Aussie Healthcare Daily is a summary of major news and announcements from ASX-listed healthcare companies as well as developments and trends in the healthcare industry.Market Highlights


Index
% Price Change


S&amp;P/ASX All Ordinaries
-0.08%


S&amp;P/ASX 200
-0.07%


ASX Small Ordinaries
-0.18%


S&amp;P/ASX 200 Health Care
-0.22%


Top Gainer in the ASX200 Health Care index: Sirtex Medical Ltd (SRX AU)

1.32%


Top Loser in the ASX200 Health Care index: Nanosonics Ltd (NAN AU)

-1.88%


Top by Volume in the ASX200 Health Care

…

Founder Evidente. Top rated quantitative analyst, Evidente

Sam Ferraro

Founder Evidente. Top rated quantitative analyst

Evidente

Evidente is an independent financial education firm that delivers innovative financial advice to wholesale investors, including active long only funds, hedge funds, pension funds, and sovereign wealth funds, in Australia and globally.  Drawing on academic research in asset pricing, behavioural finance and portfolio construction, Evidente provides wholesale investors with commercial solutions to stock selection and asset allocation decisions across equities and other asset classes.

Macroeconomics

<p>The Government's release&nbsp;of Re:think,&nbsp;its tax discussion paper, is a welcome development, designed to kick-start the conversation with the community on a range of reform options designed to&nbsp;achieve a simpler&nbsp;and&nbsp;streamlined&nbsp;tax system&nbsp;capable of meeting the growing needs of an ageing population.&nbsp;&nbsp;&nbsp;I discuss some of the areas raised in Re:think which are of greatest interest to equity investors: how important income and consumption taxes are to Australia's tax take in a global context,&nbsp;the prospect of the growing drag from bracket creep on household disposable incomes (discretionary retailers), the outlook for the GST (supermarket&nbsp;retailers),&nbsp;the efficacy and viability of the dividend imputation system (high yielders with predominantly domestically oriented operations), the sustainability of the concessional tax treatment of superannuation (asset managers), and the risk associated with companies that have low effective tax rates.</p>

The Government's release&nbsp;of Re:think,&nbsp;its tax discussion paper, is a welcome development, designed to kick-start the conversation with the community on a range of reform options designed to&nbsp;achieve a simpler&nbsp;and&nbsp;streamlined&nbsp;tax system&nbsp;capable of meeting the growing needs of an ageing population.&nbsp;&nbsp;&nbsp;I discuss some of the areas raised in Re:think which are of greatest interest to equity investors: how important income and consumption taxes are to Australia's tax take in a global context,&nbsp;the prospect of the growing drag from bracket creep on household disposable incomes (discretionary retailers), the outlook for the GST (supermarket&nbsp;retailers),&nbsp;the efficacy and viability of the dividend imputation system (high yielders with predominantly domestically oriented operations), the sustainability of the concessional tax treatment of superannuation (asset managers), and the risk associated with companies that have low effective tax rates.

Australia

Resonance Health Limited is a healthcare company that develops and commercializes a non-invasive magnetic resonance imaging technology used for the detection and diagnosis of iron levels in the liver.

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Resonance Health (RHT AU)

Will Actinogen Ace Alzheimer's?

Alzheimer’s disease is an incurable neurodegenerative disorder that robs the affected individuals of memory, self-care and quality of life,...

Winnie Wong

Aussie Healthcare Daily: 4 Dec 2017

The Aussie Healthcare Daily is a summary of major news and announcements from ASX-listed healthcare companies as well as developments and trends in...

Winnie Wong

Taxing Times For Australia

The Government's release of Re:think, its tax discussion paper, is a welcome development, designed to kick-start the conversation with the...

Sam Ferraro

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