Research on Avacta Group PLC (AVCT:LON) from Trinity Delta
Trinity Delta view: Avacta is now funded through to the early data from the first patients on therapeutic doses of AVA6103 in the Phase I/II FOCUS study; these should provide the first clinical insights on efficacy, kinetics and toxicity. Confirmation of the expected targeted tumour localisation and a reduction in systemic toxicity would be an essential validation step; not simply demonstrating that AVA6103 proposed mechanism is working but de-risking the wider next gen pre|CISION platform. We believe such data should also act as the natural catalysts to drive meaningful commercial partnerships. In the interim, AVA6207, the lead dual payload programme, is close to candidate selection and targeting an IND around end-2027/early 2028. Our Avacta valuation and forecasts are currently suspended; for context, our last published valuation was £525m, or 111p/share (105p fully diluted).
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