Biotech at Good Entry Level for Buyers, Analyst Says

December 21, 2022 ( Newswire) The corporate, centered on psychedelic-assisted psychotherapies to raised deal with dependancy, is value greater than the CA$10 million the market is valuing it at, famous a Stifel report.

Awakn Life Sciences Corp. (AWKN:NEO; AWKNF:OTCQB) is at present undervalued and, thus, offering traders a pretty time to get into the inventory, reported Stifel analyst Andrew Partheniou in a Dec. 16 analysis notice.

With the Canadian biotech agency, the “market sees a couple of CA$10 million ($10M) valuation,” he wrote. “We see a Section 3 firm with a derisked molecule.”

Additional, Awakn gives vital potential return for traders given the distinction between its present share value (CA$0.40) and Stifel’s goal value on it (CA$1.75). As such, Stifel charges the biotech Speculative Purchase.

The explanations Stifel considers Awakn undervalued are its three current key accomplishments, Partheniou wrote, “regardless of a materially difficult market backdrop.”

Current Progress Made

1) Awakn accomplished the second tranche of its capital increase, producing US$1.9M. The 2 tranches collectively and debt settlement yielded US$3M, sufficient to get it via the following three quarters, Partheniou wrote.

“This might present the corporate with time to understand some potential catalyst to create shareholder worth via derisking its outlook and pursue one other fairness financing,” he added.

2) Awakn partnered with the British authorities on the life sciences agency’s Section 3 pivotal trial of ketamine for alcohol use dysfunction, and it will likely be performed at seven Nationwide Well being Service websites. Additionally, the corporate secured governmental funding within the type of a grant that may cowl 66% of the trial value, or CA$3.75M, dropping Awakn’s contribution at CA$1.25M, “a considerably advantageous place,” famous Partheniou.

3) Awakn additional grew its ketamine clinic enterprise, including places in Norway and the U.S. reported Partheniou. In Norway, the biotech signed a lease for a second location, anticipated to be up and working by late Q1/23. The corporate additionally entered a licensing settlement with Nushama in New York, making it the third such association in North America. Nushama can pay Awakn an annual price and a royalty of an unknown quantity.

“Therefore, we see good momentum general,” wrote Partheniou.


1) Doresa Banning wrote this text for Streetwise Studies LLC and offers companies to Streetwise Studies as an impartial contractor. She or members of her family personal securities of the next corporations talked about within the article: None. She or members of her family are paid by the next corporations talked about on this article: None.

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Disclosures For Stifel GMP, Awakn Life Sciences Corp a.nd Cybin Inc., December 16, 2022

I, Andrew Partheniou, certify that the views expressed on this analysis report precisely replicate my private views concerning the topic securities or issuers; and I, Andrew Partheniou, certify that no a part of my compensation was, is, or shall be straight or not directly associated to the particular suggestions or views contained on this analysis report.

Stifel or an affiliate expects to obtain or intends to hunt compensation for funding banking companies from Awakn Life Sciences Corp. within the subsequent 3 months. The fairness analysis analyst(s) accountable for the preparation of this report obtain(s) compensation based mostly on numerous elements, together with Stifel’s general income, which incorporates funding banking income.

The knowledge contained herein has been ready from sources believed to be dependable however just isn’t assured by us and isn’t an entire abstract or assertion of all obtainable knowledge, neither is it thought of a suggestion to purchase or promote any securities referred to herein. Opinions expressed are as of the date of this publication and are topic to vary with out discover. These opinions don’t represent a private advice and don’t keep in mind the actual funding goals, monetary state of affairs or wants of particular person traders. Staff of Stifel, or its associates might, at instances, launch written or oral commentary, technical evaluation or buying and selling methods that differ from the opinions expressed inside. Stifel or any of its associates might have positions within the securities talked about and should make purchases or gross sales of such securities on occasion within the open market or in any other case and should promote to or purchase from prospects such securities on a principal foundation; such transactions could also be opposite to suggestions on this report. Previous efficiency shouldn’t and can’t be considered as an indicator of future efficiency.

Except in any other case famous, the monetary devices talked about on this report are priced as of market shut on the earlier buying and selling day and presumed efficiency is calculated all the time over the following 12 months. As a multi-disciplined monetary companies agency, Stifel frequently seeks funding banking assignments and compensation from issuers for companies together with, however not restricted to, performing as an underwriter in an providing or monetary advisor in a merger or acquisition, or serving as a placement agent in personal transactions.

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