PureTech Health (PRTC)

Sector:

Pharma and Biotech

Index:

FTSE 250

283.00p
   
  • Change Today:
    -3.00p
  • 52 Week High: 292.00p
  • 52 Week Low: 160.00p
  • Currency: UK Pounds
  • Shares Issued: 282.61m
  • Volume: 46,515
  • Market Cap: £799.80m

PureTech narrows losses in 'most ambitious year yet'

By Iain Gilbert

Date: Wednesday 24 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Biopharmaceutical company PureTech Health grew revenues and narrowed losses in its "most ambitious year yet".
Revenues increased more than 700% to $20.7m due to an improved performance by affiliate Vedanta and a $4m grant, helping the group cut losses 9.8% to $104m for the 2018 calendar year.

PureTech reported a consolidated cash balance of roughly $250.9m, with approximately $177.7m held at the parent company, while group cash and short-term investments came to $425m when including the cash and short-term investment balances held at independent affiliates.

During the year, the London-listed firm received landmark FDA clearance for one of its own products, rolled out its internal pipeline for two validating pharmaceutical partnerships with Roche and Boehringer Ingelheim and saw five successful clinical trial readouts across its affiliate pipeline.

Research and development costs increased 8% to $77.4m.

Elsewhere, analysts at Jefferies reiterated their 'buy' rating and upped their target price on the group's "underappreciated" stock from 255p to 280p on Wednesday.

"After a newsflow heavy start to 2019, most notably the first regulatory approval for affiliate Gelesis, the main FY18 focus is $177m Parent Cash and extended runway to 1Q22E.

"Over the next six to twelve months, we foresee a number of key events for the portfolio companies that could ultimately crystallise value for PureTech."

As of 0915 BST, PureTech shares had dropped 5.09% to 177p.

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PRTC Market Data

Currency UK Pounds
Share Price 283.00p
Change Today -3.00p
% Change -1.05 %
52 Week High 292.00p
52 Week Low 160.00p
Volume 46,515
Shares Issued 282.61m
Market Cap £799.80m

PRTC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
38.31% below the market average38.31% below the market average38.31% below the market average38.31% below the market average38.31% below the market average
17.24% below the sector average17.24% below the sector average17.24% below the sector average17.24% below the sector average17.24% below the sector average
Price Trend
98.10% above the market average98.10% above the market average98.10% above the market average98.10% above the market average98.10% above the market average
93.22% above the sector average93.22% above the sector average93.22% above the sector average93.22% above the sector average93.22% above the sector average
Income Not Available
Growth
68.51% above the market average68.51% above the market average68.51% above the market average68.51% above the market average68.51% above the market average
89.19% above the sector average89.19% above the sector average89.19% above the sector average89.19% above the sector average89.19% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PRTC Dividends

No dividends found

Trades for 16-Sep-2019

Time Volume / Share Price
15:25 124 @ 283.00p
15:18 173 @ 283.00p
14:56 120 @ 283.00p
14:56 45 @ 283.00p
14:56 537 @ 283.00p

PRTC Key Personnel

CEO Daphne Zohar
CFO Santosh Shanbhag

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