Insights

Clinuvel (ASX:CUV) share price gains 5% on FY21 profit boost

The ASX 200 biopharmaceutical company released its FY21 results this morning.
The post Clinuvel (ASX:CUV) share price gains 5% on FY21 profit boost appeared first on The Motley Fool Australia. –

The Clinuvel Pharmaceuticals Ltd (ASX: CUV) share price is gaining in early afternoon trade, up 4.76% to $29.70 per share at the time of writing.

Below we take a look at the ASX 200 biopharmaceutical company’s financial results for the year ending 30 June, 2021 (FY21).

Clinuvel share price gains on FY21 results

Revenue and other income of $48.5 million, up from $33.9 million in FY20
Net profit after tax (NPAT) increased to $24.7 million from $15.1 million in FY20
Basic earnings per share (EPS) of 50 cents, up from 31 cents the prior year
Declared a dividend of 2.5 cents per share (cps), unfranked, the same as in FY20

What happened during the reporting period for Clinuvel?

In FY21, Clinuvel recorded its fifth consecutive year of positive cashflow, revenues and profit.

With an eye on growth, total expenses of $22.7 million were maintained, roughly in line with FY20’s $22.4 million.

Over the course of the financial year, the company expanded its commercial distribution of its leading drug candidate SCENESSE in Europe and the United States. SCENESSE is intended to treat erythropoietic protoporphyria, a rare, genetic metabolic disorder.

Clinuvel also progressed with its research and development of other pharmaceuticals in its pipeline, being developed to treat a range of severe disorders.

There was also progress on the development of various non-prescription, dermatocosmetic products for people at high risk of exposure to ultraviolet (UV) and High Energy Visible (HEV) light.

The company had cash reserves of $82.7 million as at 30 June.

What did management say?

Commenting on the results, Clinuvel’s chief financial officer Darren Keamy said:

The result has been driven by strong patient demand in Europe and in the USA, despite a challenging operating environment.

The progress in the US in the first full year of commercial operations is ahead of our planning, with over 40 Specialty Centers trained and accredited to administer SCENESSE and over 60 national and state private insurers reimbursing EPP patients’ treatment.

Our US roll out, combined with ongoing demand in Europe, has helped deliver strong growth in revenues with only a relatively modest increase in overall expenses.

What’s next for Clinuvel?

Looking ahead, Clinuvel said it’s “committed to growing its commercial operations in Europe, the USA, Israel, and other countries”.

The company is continuing to develop both prescription and non-prescription products to treat a range of medical issues, focused on repairing DNA damage.

It said its new divisional structure supports its growth plans. The new structure consists of: Pharmaceuticals; Healthcare Solutions; Communications, Branding & Marketing; and Manufacturing. Clinuvel says the new divisional structure is “underpinned” by its Research, Development & Innovation Centre, located in Singapore.

The Clinuvel share price is up 26% over the past 12 months.

The post Clinuvel (ASX:CUV) share price gains 5% on FY21 profit boost appeared first on The Motley Fool Australia.

Should you invest $1,000 in Clinuvel right now?

Before you consider Clinuvel, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Clinuvel wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Woolworths (ASX:WOW) share buyback: here’s what you need to know
Viva Leisure (ASX:VVA) share price sinks 7% on capital raising efforts
If you invested $1,000 in Sydney Airport (ASX:SYD) shares a decade ago, here’s what it would be worth now
Australian Clinical Labs (ASX:ACL) share price soars 9% after smashing profit forecast
People Infrastructure (ASX:PPE) share price struggling to hold gains following record FY21 result

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!