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Dimerix Limited (AU:DXB)
ASX:DXB
Australian Market

Dimerix Limited (DXB) AI Stock Analysis

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AU:DXB

Dimerix Limited

(Sydney:DXB)

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Neutral 48 (OpenAI - 5.2)
Rating:48Neutral
Price Target:
AU$0.53
▼(-2.04% Downside)
The score is primarily constrained by weak financial quality (negative margins, very negative ROE, and sharply negative free cash flow growth) despite strong revenue growth and low leverage. Technical signals are mixed but slightly supportive versus medium/long-term averages, while valuation is penalized by loss-making status (negative P/E) and no stated dividend yield.
Positive Factors
Revenue Growth
Dimerix's significant revenue growth indicates robust demand for its drug candidates, enhancing its market position and potential for future profitability.
Low Leverage
Minimal leverage provides Dimerix with financial flexibility and stability, allowing it to invest in R&D without significant debt-related constraints.
Cash Generation
Effective cash generation relative to earnings suggests Dimerix can sustain operations and fund development activities, supporting long-term growth.
Negative Factors
Profitability Challenges
Persistent negative margins highlight operational inefficiencies and high costs, posing a risk to achieving sustainable profitability.
Negative Free Cash Flow Growth
Declining free cash flow growth indicates potential difficulties in maintaining financial health, impacting the ability to fund future projects.
Negative Return on Equity
A highly negative ROE suggests inefficiencies in using shareholder equity to generate profits, which could deter future investment.

Dimerix Limited (DXB) vs. iShares MSCI Australia ETF (EWA)

Dimerix Limited Business Overview & Revenue Model

Company DescriptionDimerix Limited, a biopharmaceutical company, develops and commercializes pharmaceutical products for unmet medical needs. It develops DMX-200 that is in two Phase 3 clinical trials for COVID respiratory complications; DMX-200, a Phase 3 clinical trial for focal segmental glomerulosclerosis disease; DMX-200 for diabetic kidney disease; and DMX-700 for chronic obstructive pulmonary disease. The company is headquartered in Fitzroy, Australia.
How the Company Makes MoneyDimerix Limited generates revenue primarily through a combination of grant funding, research collaborations, and potential licensing agreements for its drug candidates. The company seeks financial support from government grants and other funding sources to support its research and clinical development efforts. Additionally, Dimerix has established partnerships with pharmaceutical companies that provide funding in exchange for access to its drug development pipeline, which can lead to milestone payments and royalties upon successful commercialization. The company's revenue model is heavily dependent on the successful progression of its clinical trials, regulatory approvals, and the eventual market launch of its therapeutics.

Dimerix Limited Financial Statement Overview

Summary
Dimerix Limited demonstrates robust revenue growth but faces significant profitability challenges, with negative margins across key metrics. The balance sheet is characterized by low leverage, which provides financial flexibility, but the negative return on equity indicates inefficiencies. Cash flow generation is strong relative to net income, yet the decline in free cash flow growth raises concerns about future cash sustainability. Overall, the company shows potential for growth but needs to address profitability and cash flow sustainability to improve its financial health.
Income Statement
Dimerix Limited shows a significant revenue growth rate of 70.03% in the latest year, indicating strong top-line expansion. However, the company struggles with profitability, as evidenced by negative net profit margins (-10.56%) and EBIT margins (-28.97%). The consistent negative margins suggest ongoing operational challenges and high costs relative to revenue.
Balance Sheet
The balance sheet reflects a low debt-to-equity ratio of 0.0073, indicating minimal leverage and potential financial stability. However, the return on equity is negative (-99.05%), highlighting inefficiencies in generating returns for shareholders. The equity ratio is not provided, but the low leverage suggests a conservative capital structure.
Cash Flow
Cash flow analysis reveals a strong operating cash flow to net income ratio of 1.76, suggesting effective cash generation relative to reported earnings. Despite this, the free cash flow growth rate is negative (-307.61%), indicating potential challenges in sustaining cash flow growth. The free cash flow to net income ratio is nearly 1, showing alignment between cash flow and accounting profits.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue5.59M1.25M583.48K36.79K6.46M4.44M
Gross Profit5.59M1.25M583.48K36.79K6.41M4.39M
EBITDA-31.67M-36.22M-24.96M-22.68M-16.47M-10.02M
Net Income-13.25M-13.25M-17.07M-13.80M-10.49M-6.37M
Balance Sheet
Total Assets91.18M91.18M32.08M17.76M16.50M9.42M
Cash, Cash Equivalents and Short-Term Investments68.28M68.28M22.14M7.99M9.63M5.25M
Total Debt97.48K97.48K149.68K5.96M73.10K5.09M
Total Liabilities77.80M77.80M13.89M11.79M2.07M7.95M
Stockholders Equity13.38M13.38M18.19M5.96M14.42M1.47M
Cash Flow
Free Cash Flow39.03M39.03M-7.02M-12.73M-13.45M-6.47M
Operating Cash Flow39.05M39.05M-7.00M-12.73M-13.44M-6.46M
Investing Cash Flow-21.01K-21.01K-15.80K-2.30K-10.61K4.38K
Financing Cash Flow7.42M7.42M21.17M11.07M17.69M3.83M

Dimerix Limited Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price0.54
Price Trends
50DMA
0.53
Positive
100DMA
0.51
Positive
200DMA
0.52
Positive
Market Momentum
MACD
<0.01
Positive
RSI
47.48
Neutral
STOCH
34.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DXB, the sentiment is Neutral. The current price of 0.54 is below the 20-day moving average (MA) of 0.57, above the 50-day MA of 0.53, and above the 200-day MA of 0.52, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.48 is Neutral, neither overbought nor oversold. The STOCH value of 34.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:DXB.

Dimerix Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
AU$634.54M17.5015.90%0.38%7.76%1.55%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
49
Neutral
AU$641.07M-10.31-35.86%-19.21%
48
Neutral
AU$324.21M-22.69-83.97%1271.12%36.87%
44
Neutral
AU$500.96M-100.73-27.89%67.26%
44
Neutral
AU$108.11M-13.24-47.98%700.00%26.88%
41
Neutral
AU$293.01M-30.08-89.70%42.05%-0.84%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:DXB
Dimerix Limited
0.54
0.06
12.50%
AU:CUV
Clinuvel Pharmaceuticals
12.64
1.52
13.71%
AU:OCC
Orthocell Ltd
1.08
-0.30
-21.74%
AU:IMM
Immutep Ltd
0.44
0.11
33.85%
AU:RAC
Race Oncology Ltd.
2.77
1.52
121.60%
AU:ALA
Arovella Therapeutics Limited
0.09
-0.10
-52.63%

Dimerix Limited Corporate Events

Dimerix Gains FDA Endorsement of Key Endpoint for Phase 3 FSGS Trial
Dec 23, 2025

Dimerix has received written feedback from the U.S. Food and Drug Administration confirming that percent reduction in proteinuria at two years is an appropriate primary endpoint to support traditional approval of its Phase 3 candidate DMX-200 in FSGS, with change in eGFR to serve as a secondary endpoint. The agency has requested additional information and documentation to safeguard trial integrity before proceeding with a planned blinded statistical powering analysis for the ACTION3 Phase 3 study, pushing that analysis to early 2026 but reinforcing the regulatory path for DMX-200 in a rare kidney disease with no approved targeted therapies, a development that could be significant for patients and for Dimerix’s positioning in the FSGS treatment landscape.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

BioMarin’s US$4.8bn Amicus Deal Preserves Dimerix Licensing Rights and Bolsters Rare Kidney Drug Outlook
Dec 22, 2025

Dimerix has confirmed that BioMarin Pharmaceutical will acquire its US commercial licensing partner, Amicus Therapeutics, in an all-cash deal valuing Amicus at about US$4.8 billion, with the transaction to include the transfer of Amicus’s Dimerix commercial licensing contract and all associated rights and obligations. The US licensing agreement for DMX-200 remains intact, leaving Dimerix eligible for up to US$590 million in milestone and upfront payments plus tiered royalties, while its existing ex-US licensing deals with Advanz Pharma, Taiba and Fuso are unaffected and collectively offer up to around A$1.4 billion in potential payments, bolstering the company’s funding base and strategic position as it advances the Phase 3 ACTION3 trial in FSGS and pursues additional partnering opportunities in unlicensed territories.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Completes Recruitment for ACTION3 Phase 3 Trial
Dec 14, 2025

Dimerix Limited has successfully completed the recruitment for its ACTION3 Phase 3 clinical trial, which evaluates the efficacy and safety of DMX-200 in patients with focal segmental glomerulosclerosis (FSGS). The trial, which involves 286 adult patients, has shown promising interim results, with DMX-200 outperforming placebo in reducing proteinuria, a marker of kidney disease progression. The company plans to seek feedback from the FDA on trial endpoints and potential accelerated approval, positioning itself for regulatory submission and potential commercialization.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Limited Announces Director’s Interest Change
Dec 12, 2025

Dimerix Limited announced a change in the director’s interest, specifically regarding the acquisition of unlisted options by Director Nina Webster. This change is part of the company’s Omnibus Equity Plan, reflecting strategic moves to align management interests with shareholder value. The issuance of these options, valued at $1,093,500, indicates confidence in the company’s future growth and operational strategies.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Limited Issues Unquoted Securities for Employee Incentive
Dec 12, 2025

Dimerix Limited has announced the issuance of 3,700,000 unquoted securities under an employee incentive scheme, which are not intended to be quoted on the ASX. This move is likely aimed at incentivizing employees and aligning their interests with the company’s growth, potentially impacting the company’s operational dynamics and stakeholder engagement.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Achieves Positive IDMC Review for Phase 3 FSGS Trial
Nov 19, 2025

Dimerix Limited announced the successful completion of the seventh Independent Data Monitoring Committee (IDMC) review of its ACTION3 Phase 3 FSGS kidney trial, with no safety concerns raised. This endorsement supports the strong safety profile of DMX-200, positioning it as a promising treatment option in the FSGS landscape, offering hope to patients with limited options and representing a significant commercial opportunity in an underserved market.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Limited Successfully Passes All Resolutions at 2025 AGM
Nov 18, 2025

Dimerix Limited announced that all resolutions at its 2025 Annual General Meeting were passed with the required majorities. Key resolutions included the re-election of Dr. Sonia Poli as a director and the approval of a 10% placement capacity under ASX Listing Rule 7.1a. The successful passing of these resolutions supports Dimerix’s strategic initiatives and strengthens its governance structure, potentially enhancing its market position and stakeholder confidence.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Advances Lead Program and Strengthens Commercial Strategy
Nov 18, 2025

Dimerix Limited has made significant progress in the 2024-25 financial year by advancing its lead program, DMX-200, through the Phase 3 ACTION3 clinical trial for focal segmental glomerulosclerosis (FSGS), a condition with no approved therapies. The company has nearly completed patient recruitment and has entered into four commercial licensing agreements valued at up to $1.4 billion, which provide non-dilutive capital and de-risk development. These efforts position Dimerix for potential market approval and significant commercial opportunities, particularly in high-need markets, while also strengthening its operational and scientific credibility.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Advances DMX-200 in Phase 3 Trials with Strong Financial Position
Oct 28, 2025

Dimerix Limited announced significant progress in its quarterly activities report, highlighting the advancement of its DMX-200 product candidate in the ACTION3 Phase 3 clinical trial for focal segmental glomerulosclerosis (FSGS). The company received Orphan Drug Designation in Japan and reported a strong cash position of AU$49.2 million. The successful data analysis from the PARASOL collaboration is expected to support potential marketing approval for DMX-200 globally. Despite a net operating cash outflow of AU$18.8 million, Dimerix anticipates reduced cash outflows in future quarters as the trial nears full recruitment, maintaining a focus on licensing opportunities and new R&D pipeline activities.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Limited Issues New Shares Following Option Exercise
Oct 22, 2025

Dimerix Limited has announced the issuance of 212,170 fully paid ordinary shares following the cashless exercise of 799,500 unlisted options. This move, which was made without disclosure under Part 6D.2 of the Corporations Act 2001, signifies the company’s adherence to regulatory compliance and may impact its market positioning by potentially increasing liquidity and shareholder value.

The most recent analyst rating on (AU:DXB) stock is a Buy with a A$1.46 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Limited Announces Quotation of New Securities on ASX
Oct 22, 2025

Dimerix Limited has announced the application for quotation of 212,170 ordinary fully paid securities on the Australian Securities Exchange (ASX), under the code DXB. This move is part of an employee incentive scheme, indicating the company’s efforts to motivate and retain talent, which could positively impact its operational capabilities and market positioning.

The most recent analyst rating on (AU:DXB) stock is a Buy with a A$1.46 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix to Present Key Updates at Canaccord Drug & Device Conference 2025
Oct 20, 2025

Dimerix Limited announced that its CEO, Dr. Nina Webster, will present at the Canaccord Drug & Device Conference 2025, highlighting the status of their Phase 3 global clinical trial for FSGS kidney disease and commercial partnering efforts. This presentation underscores Dimerix’s commitment to advancing DMX-200, a promising treatment for FSGS, a rare kidney disorder with limited treatment options, potentially enhancing their market positioning and offering hope for patients with unmet medical needs.

The most recent analyst rating on (AU:DXB) stock is a Buy with a A$1.46 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Limited Announces 2025 AGM Details
Oct 15, 2025

Dimerix Limited has announced the details for its 2025 Annual General Meeting (AGM), which will be held in person at its office in Fitzroy, Victoria. The company has made available the Notice of Meeting and Proxy Form online, emphasizing the importance of shareholder engagement and participation in the upcoming meeting. This announcement reflects Dimerix’s commitment to transparency and effective communication with its stakeholders, as it continues to advance its clinical programs and strengthen its position in the biopharmaceutical industry.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix Advances Kidney Disease Treatment with Positive PARASOL Data Analysis
Oct 7, 2025

Dimerix Limited announced the successful completion of a data analysis by the PARASOL collaboration, which supports the use of proteinuria endpoints in their ACTION3 study for potential marketing approval in the US. The analysis observed a potential relationship between proteinuria at 12 months and the risk of kidney failure, which will be discussed with the FDA for possible accelerated approval pathways. This development could significantly impact Dimerix’s operations and industry positioning by potentially expediting the approval process for their kidney disease treatment, thereby benefiting stakeholders.

The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Dimerix’s DMX-200 Gains Orphan Drug Status in Japan
Sep 30, 2025

Dimerix Limited announced that its lead asset, DMX-200, has received Orphan Drug Designation in Japan for treating Focal Segmental Glomerulosclerosis (FSGS), a rare kidney disease. This designation provides significant benefits such as financial incentives, regulatory assistance, and market exclusivity, enhancing the commercial potential of DMX-200. The Phase 3 clinical trial, ACTION3, is currently recruiting in Japan, and Dimerix’s commercial partner, FUSO Pharmaceutical Industries, has exclusive rights to develop and commercialize DMX-200 in Japan. The designation marks a major milestone for Dimerix’s global strategy to provide new treatment options for FSGS patients.

The most recent analyst rating on (AU:DXB) stock is a Buy with a A$1.46 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Dec 25, 2025