Discover The Next Potential ASX Hidden Gems

Team Veye | 12-Jun-2024

Winners are grinners. Veye has been able to identify Stocks with Multibagger Potential at the right time, undervalued but having strong fundamentals and attractive business models. No wonder they have proved good investment options. 

Investors looking to build capital with suitable risk appetite always plan to get their hands on Upcoming Multibagger Stocks

Australian Stock Market offers many upcoming stocks with strong credentials. The potential multibagger stocks for 2025 are

Dimerix Limited (ASX: DXB)

Dimerix Limited and Taiba Middle East FZ LLC entered an exclusive license agreement for Dimerix’ Phase 3 drug candidate DMX-200 to treat focal segmental glomerulosclerosis (FSGS) kidney disease in the Middle East. Taiba will cover territories including the UAE, Saudi Arabia, and others. Dimerix retains rights for other regions like the US and China. The deal could bring Dimerix up to AU$120.5 million in upfront and milestone payments, plus royalties. Both parties will form a Joint Steering Committee to manage DMX-200's development and commercialization. Taiba also has the option to negotiate for additional indications within the licensed territories.

On 1 May 2024, the UK Medicines and Healthcare products Regulatory Agency (MHRA) granted approval for Dimerix's DMX-200 Paediatric Investigation Plan (PIP) for the UK market.

The inclusion of paediatric patients aged 12 to 17 years in the Phase 3 clinical study expands the potential patient population and market reach for DMX-200. This broader scope positions Dimerix as a leader in addressing FSGS kidney disease across various age groups, enhancing its competitive advantage. 

Dimerix appears well positioned for future success, supported by its expanding pipeline and strategic partnerships.

Elsight Limited (ASX: ELS)

Elsight Limited recently announced a significant advancement in its collaboration with Lockheed Martin. Through a strategic partnership, Elsight's Halo connectivity platform was seamlessly integrated with Lockheed Martin's Indago 4 UAS, enabling successful BVLOS (beyond visual line-of-sight) flights with enhanced capabilities and expanded operational reach. 

This integration ensures uninterrupted data flow, including real-time video feeds and critical telemetry data, thereby elevating operational efficiency and effectiveness.

In FY23 Elsight had made significant strides in expanding its market presence, acquiring over 50 strategic Design-Win partners across various verticals in 2023, bringing the total to 115 partners. Moreover, the company surpassed its original Baseline Revenue Plan, demonstrating robust execution and performance throughout the year.

In the fiscal year that ended on 31 December 2023, Elsight Limited reported impressive financial results, including a remarkable 87% growth in revenue. Notably, recurring revenue surged by an impressive 463%, reaching US$411K compared to US$73K in 2022

The company's robust backlog of orders slated for delivery in Q2/24 reflects strong market demand and underscores Elsight's position as a trusted provider of innovative solutions in the defense and HLS domains. Additionally, receiving a grant from the Israel Ministry of Economy and Industry to expand its business in APAC signifies recognition of Elsight's growth potential and further supports its expansion initiatives.

PYC Therapeutics Limited (ASX: PYC)

PYC Therapeutics, in the fiscal year 2023, witnessed a significant increase in revenue from ordinary activities, rising by 162% compared to FY22. However, the operating loss after tax attributable to the owners of PYC Therapeutics Limited and its controlled entities for the half-year ended December 31, 2023, decreased by 7% compared to the same period in the previous year, amounting to $15,094,867 (compared to $16,238,636 in December 2022).

As of December 31, 2023, the consolidated cash position stood at $25,413,571. The expenditure for the half-year was $24,379,165, marking an increase from $20,428,939 in December 2022. The surge in expenditure is mainly because the ongoing Phase 1 clinical study of support an anticipated regulatory submission in the second half of FY24 for the commencement of a Phase 1 clinical study, and the addition of the PYC-003 program targeting Polycystic Kidney Disease.

PYC's focused approach towards commercialization, coupled with the advancement of multiple drug candidates in its pipeline, presents a compelling opportunity for significant capital appreciation and enhanced shareholder value over the coming years. The company's leading candidates, VP-001 and PYC-001, targeting rare blinding diseases with projected market sizes of $1 billion and $2 billion annually respectively, represent lucrative market opportunities, especially given the absence of current treatments.


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