CLINUVEL Pharmaceuticals Limited (ASX: CUV)
CLINUVEL Pharmaceuticals Limited (ASX: CUV) announced the validation and acceptance of its New Drug Submission (NDS) to Health Canada for SCENESSE® (afamelanotide). This innovative photoprotective therapy addresses erythropoietic protoporphyria (EPP), a rare genetic disorder causing extreme sunlight sensitivity and painful phototoxic reactions. With an estimated 280 EPP patients in Canada, approval would extend SCENESSE®'s reach, enhancing CLINUVEL’s market presence and providing a significant quality-of-life improvement for patients. On November 20, 2024, CUV disclosed late-stage discussions with the European Medicines Agency (EMA) to increase the annual recommended SCENESSE® doses for EPP patients, aligning with the FDA-approved year-round treatment protocol in the U.S. A decision is expected in Q1 2025, which could harmonize global treatment standards and strengthen CLINUVEL’s foothold in Europe.
Strategically, CLINUVEL is concentrating its resources on three core clinical areas: vitiligo, ACTH, and porphyrias (EPP and VP). Concurrently, the company has paused programs in stroke, Parkinson’s disease, and xeroderma pigmentosum to optimize resource allocation. Additionally, its PhotoCosmetic division is advancing with three upcoming product launches, reflecting a diversification strategy that leverages its expertise in photoprotection. The company’s financial performance underscores its growth trajectory and operational efficiency. Revenue increased from A$66.17 million in FY22 to A$95.5 million in FY24, while Net Profit After Tax (NPAT) grew from A$20.88 million to A$35.64 million. CLINUVEL reduced its debt to A$0.88 million in FY24, maintaining strong margins of 37.31%. Key metrics such as Return on Equity (19.39%) and Return on Invested Capital (20.98%) highlight its ability to generate consistent shareholder value. With cash reserves nearing A$195 million, CLINUVEL is well-capitalized to drive innovation and expand its market presence. By prioritizing high-potential clinical areas and advancing its cosmetic product line, the company is positioned for long-term growth and leadership in photoprotective therapies and niche dermatology markets.
GPT Group (ASX: GPT)
On December 3, 2024, the GPT Group (ASX: GPT) announced a new retail partnership with the Perron Group. As part of the deal, GPT will acquire a 50% stake in two premium Perth retail properties, Cockburn Gateway and Belmont Forum, for approximately $482 million. These assets have a combined gross lettable area of ~119,000 sqm and generate over $1 billion in annual turnover. The Cockburn Gateway property has already secured approval for a significant 20-year transformation, with Stage 1 potentially adding around 20,000 sqm of additional retail space. This acquisition aligns with GPT’s strategy to expand and diversify its $14 billion retail portfolio, focusing on top-performing properties in areas with strong population growth and favorable demographics. The completion of the transaction is expected in February 2025, which will enhance GPT’s operational capabilities and open up new development opportunities.
For the September 2024 quarter, GPT reported solid performance across its investment and funds management portfolios. The Group’s retail assets achieved a total occupancy rate of 97.9%, with a weighted average lease expiry (WALE) of 4.5 years. In terms of funds management, GPT’s Global Wholesale Shopping Centre Fund (GWSCF) outperformed its benchmark across all time periods, while the GPT Wholesale Office Fund (GWOF) showed strong results over 1, 2, and 3 years. The Group also made notable progress on its 2024 strategic priorities, aimed at strengthening its operational capabilities and positioning itself as an active investment partner in funds and partnerships. In the logistics sector, GPT continues to see growth, with significant leasing activity and development in key areas, including the Yiribana East Logistics Estate and 865 Boundary Road projects. Additionally, GPT’s logistics portfolio is estimated to be at least 15% under-rented, presenting opportunities to capture further income upside as leases expire.
Source: Company’s Report
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