DIMERIX LIMITED (DXB)
Share Price Analysis and Chart

07/09/2025

1

Buy

$1.46

167.89%

Dimerix's FY25 underlying net loss of -$26.6m was worse than Petra Capital's forecast of -$20.8m due to higher opex and R&D rebate accounted against tax rather than as cash inflow.

The company ended FY25 with a cash balance of $68.3m, and the broker reckons it is well-funded for ongoing trials and pipeline development. Still, the broker flagged significant cash outflows in 1Q26 for licensing fees and CRO milestone payments.

Large downgrades made to FY26-27 net profit forecasts due mainly to $10m increase in opex forecasts. Key catalysts in the next 6-12 months include US accelerated approval data, China licensing and ACTION 3 enrolment.

Buy. Target cut to $1.46 from $1.58.

FORECAST
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.90 cents.
Petra Capital forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.50 cents.