Melbourne, Australia, 26 April 2021
NASDAQ INTERNATIONAL DESIGNATION:
CLINUVEL PHARMACEUTICALS LTD today informed its shareholders and interested investors that Wilsons Advisory and Stockbroking Limited (Wilsons) has initiated independent analyst coverage on the Company.
“CLINUVEL’s progress in commercial operations and clinical programs has driven increased interest from the global investment community,” CLINUVEL’s Head of Investor Relations, Mr Malcolm Bull said. “Wilsons’ attention to CLINUVEL’s patient focussed approach was one of the factors to assess the Company and commence coverage. We welcome the active interest of independent, licensed research firms to bring CLINUVEL to the attention of their clients,” Mr Bull said.
INDEPENDENT RESEARCH ANALYST COVERAGE
Australian-based firm Wilsons offers services in private wealth management, corporate finance, research and investment strategy, and institutional sales. The group is focused on investment opportunities in emerging and mid-cap markets, and undertakes in-depth research on the healthcare, technology, financial services, consumer, food, and agriculture sectors. Wilsons currently covers 23 listed companies in Australia.
Analysts Dr Shane Storey and Dr Melissa Benson led Wilsons’ research into CLINUVEL and authored the report.
Dr Storey has covered the healthcare sector at Wilsons for more than a decade and previously held positions in drug development, R&D project management, and venture capital. Dr Benson joined Wilsons in September 2020 after gaining experience in both industry and academia, primarily in clinical research and drug commercialisation roles.
Wilsons’ initiation follows the release of CLINUVEL’s second Strategic Update, with the Company announcing the formation of four separate divisions to increase its product offerings to broader audiences and establish manufacturing capabilities. The Company has recently communicated its translational use of afamelanotide as a systemic photoprotective and DNA-reparative agent in xeroderma pigmentosum (XP), a group of patients who aggressively develop skin cancers due to ultraviolet (UV) exposure.
Further expansion of the use of afamelanotide is planned in patients diagnosed with arterial ischaemic stroke (AIS), an acute condition when a clot blocks the higher regions of the brain, depriving it from blood and oxygen supply. The majority of stroke patients remains unattended due to the lack of available therapy.
Wilsons is the sixth independent holder of an Australian Financial Services License (AFSL) to issue research reports on CLINUVEL.
NO GUIDANCE OR ENDORSEMENT
CLINUVEL does not provide financial guidance, and it does not endorse, confirm, or express a view as to the accuracy and forecasts of the analyst reports. CLINUVEL does not induce, incentivise, or remunerate analysts to publish and or recommend the Company in their reports.
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Head of Investor Relations
Mr Malcolm Bull, CLINUVEL PHARMACEUTICALS LTD