Validating WaferiX and Fully Funding Wafermine: Multiple Monetisation Pathways Support Buy Rating on iX Biopharma

iX Biopharma Ltd. (42C) has received a new Buy rating, initiated by Phillip Securities analyst, Paul Chew.

Paul Chew has given his Buy rating due to a combination of factors that significantly improve iX Biopharma’s growth outlook. The secured US$41mn non‑dilutive funding from the U.S. Department of Defense both validates the WaferiX platform and fully finances Phase 3 development of Wafermine, while the planned Emergency Use Authorisation creates an early revenue path ahead of full FDA approval.

In addition, Chew highlights the upside from multiple monetisation routes for Wafermine – including full commercial launch, out‑licensing, or a potential asset sale – alongside new income streams from DoD grant inflows and U.S. compounding pharmacy sales. He also factors in the scalable WaferiX pipeline across numerous indications and values the business using a sum‑of‑the‑parts approach, even after applying substantial discounts to clinical and early‑stage assets, supporting his S$1.00 target price and Buy stance.