Invion (IVX) AI Stock Analysis

• Market Cap: AU$7.88M
• Dividend Yield: N/A
• Average Volume (3M): 97.01K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.72
• Revenue Growth: -100.00%
• EPS Growth: -40.46%
• Country: AU
• Employees: 8
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.09
• Shares Outstanding: 85,647,255
• 10 Day Avg. Volume: 121,261
• 30 Day Avg. Volume: 97,006
• PEG Ratio: -0.02
• Price to Book (P/B): 0.96
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.67
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: AU$0.09 ▲(17.50% Upside)

The score is held back primarily by weak financial performance (zero latest-year revenue, widening losses, and ongoing cash burn with shrinking equity). Technical indicators are moderately supportive in the near term, but longer-term trend remains below key moving averages. Valuation is constrained by negative earnings and the absence of dividend support.

Positive Factors

Global Licensing for Photosoft™

Securing global licenses for Photosoft™ enhances Invion's ability to expand clinical programs and address significant market opportunities, strengthening its competitive position in oncology and infectious diseases.

Non-Dilutive Funding

The non-dilutive funding supports Invion's esophageal cancer program, enabling advancement without equity dilution, potentially accelerating its path to market in a growing therapeutic area.

Partnership in Pet Cancer Treatment

The partnership to explore Photosoft™ in pet cancer treatments taps into a growing market, diversifying Invion's applications and potentially accelerating commercialization in the companion animal sector.

Negative Factors

Zero Revenue

Zero revenue indicates a lack of commercialized products, posing a challenge to financial sustainability and highlighting a reliance on external funding for ongoing operations.

Widening Losses

Widening losses reflect operational inefficiencies and a high cost base, which could strain cash flow and limit Invion's ability to invest in R&D and growth initiatives.

Negative Cash Flow

Consistently negative cash flow underscores the need for external funding, which may impact Invion's financial flexibility and ability to sustain long-term operations without significant revenue generation.

Invion Business Overview & Revenue Model

Company Description

Invion (IVX) is a biotechnology company focused on the research, development, and commercialization of Photodynamic Therapy (PDT) for the treatment of various cancers. Operating primarily in the healthcare and pharmaceutical sectors, Invion is dedicated to advancing its novel technologies to offer innovative treatment solutions that can improve patient outcomes. The company's core products include its proprietary PDT compounds and related systems that leverage light-activated processes to target and destroy cancer cells.

How the Company Makes Money

Invion makes money through a combination of licensing agreements, research and development partnerships, and potentially future sales of its Photodynamic Therapy products. The company engages in partnerships with other biotech and pharmaceutical firms to further develop and commercialize its technologies, often receiving upfront payments, milestone payments, and royalties as part of these agreements. Additionally, Invion may receive government grants or funding from health organizations to support its research efforts. As its products progress through clinical trials and receive regulatory approval, Invion aims to generate revenue from direct sales and distribution of its PDT products to healthcare providers and institutions.

Invion Financial Statement Overview

Summary

Invion faces considerable financial challenges with negative profitability and cash flow issues. While the absence of debt is a strong point, declining revenues and persistent losses underscore the need for strategic improvements. The company must address operational inefficiencies and explore growth avenues to enhance financial health and shareholder value.

Income Statement

Invion's income statement reflects significant challenges. The company shows a declining revenue trend with negative growth in the latest year, and persistent losses with a negative net profit margin, indicating profitability issues. The EBIT and EBITDA margins are deeply negative, highlighting operational inefficiencies. Despite a brief revenue growth in the past, recent performance suggests a downward trajectory.

Balance Sheet

The balance sheet is relatively stable with no debt, which is a positive sign. However, the equity has been decreasing over the years, indicating potential erosion of shareholder value. The equity ratio remains high, suggesting a conservative capital structure with strong reliance on equity. Yet, the declining asset base and equity could pose future risks.

Cash Flow

Cash flow statements indicate negative free cash flow and operating cash flow, suggesting cash management challenges. Although there was an improvement in free cash flow last year, the overall trend remains negative. The lack of financing cash flow in recent years points to limited external funding, which may constrain operational flexibility.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	3.69M	4.10M	3.29M	2.33M
Gross Profit	-1.29M	-1.29M	1.00M	1.21M	969.12K	810.50K
EBITDA	-4.00M	-4.00M	-4.57M	-965.37K	-1.82M	-1.29M
Net Income	-8.81M	-8.81M	-5.63M	-1.61M	-2.24M	-1.48M
Balance Sheet
Total Assets	9.49M	9.49M	15.45M	19.05M	20.04M	5.64M
Cash, Cash Equivalents and Short-Term Investments	850.37K	850.37K	783.53K	4.08M	8.47M	1.04M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	1.24M	1.24M	1.01M	650.63K	462.41K	851.50K
Stockholders Equity	8.25M	8.25M	14.44M	18.40M	19.58M	4.79M
Cash Flow
Free Cash Flow	-2.97M	-2.97M	-3.30M	-4.39M	-8.36M	417.98K
Operating Cash Flow	-2.97M	-2.97M	-2.40M	-1.81M	-1.11M	417.98K
Investing Cash Flow	0.00	0.00	-900.00K	-2.58M	-7.25M	0.00
Financing Cash Flow	3.04M	3.04M	0.00	15.80M	15.80M	0.00

Invion Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
EXL	49 Neutral	AU$4.55M	-1.20	-26.84%	―	36.60%	85.28%
IVX	47 Neutral	AU$7.88M	-0.75	-74.92%	―	-100.00%	-40.46%
EPN	46 Neutral	AU$10.61M	-1.62	-469.43%	―	-1.25%	-188.33%
CAN	39 Underperform	AU$15.88M	-0.24	-401.36%	―	-26.49%	61.72%

Invion Corporate Events

Invion Options Lapse as 300,000 IVXAAJ Securities Expire Unexercised

Invion Limited has announced the expiry of 300,000 listed options (ASX code IVXAAJ) that carried an exercise price of A$1.50 and were due to expire on 13 January 2026. The options lapsed without being exercised, resulting in a reduction of potential future dilution for existing shareholders but no immediate change to the company’s ordinary share count or cash position, signalling limited investor appetite at the set strike price at the time of expiry.

The most recent analyst rating on (AU:IVX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Invion stock, see the AU:IVX Stock Forecast page.

Invion Secures Up to A$2m Non-Dilutive Funding for Esophageal Cancer Program

Invion has announced that partner Hanlim Pharm, backed in part by a grant from South Korea’s Korea Drug Development Fund, will provide up to A$2 million in non-dilutive funding for preclinical and regulatory work to support an Australian first-in-human clinical trial of intravenously administered HL270 (INV043) for oesophageal cancer. The two-stage program will first test efficacy, including combination studies with immune checkpoint inhibitors in animal models by the first half of 2026, and, subject to positive results, move to non-clinical stability, toxicity and manufacturing studies and preparation of Australian regulatory filings targeting completion in the second half of 2027, positioning Invion to tap into a fast-growing global oesophageal cancer therapy market projected to reach US$36.6 billion by 2035 and potentially enhancing its standing in oncology drug development.

Invion Secures Global Licensing for Photosoft™ Technology

Invion Limited has secured perpetual exclusive global licenses for its Photosoft™ technology, allowing the company to expand its clinical programs and address significant market opportunities in cancer and infectious diseases. This strategic move enhances Invion’s potential for shareholder value and positions it to capitalize on lucrative markets with unmet medical needs. The transaction involves a series of agreements with NGPDT IP Holdings Pty Ltd and RMW Cho Group Limited, subject to shareholder approval and other conditions, and includes the issuance of up to 36.7 million shares upon achieving specific milestones.

Invion Limited Passes Key Resolutions at 2025 AGM

At its 2025 Annual General Meeting, Invion Limited successfully passed several resolutions, including the adoption of a remuneration report, re-election of a director, and approval of share and option plans. These resolutions are expected to strengthen Invion’s operational framework and support its strategic initiatives in advancing its Photosoft™ technology, thereby enhancing its position in the life-science industry.

Invion Advances Photodynamic Therapy for Cancer and Infectious Diseases

Invion Limited’s Annual General Meeting highlighted its commitment to advancing next-generation photodynamic therapy (PDT) for cancers and infectious diseases. This strategic focus aims to enhance the company’s position in the biotechnology sector by addressing critical health challenges, potentially impacting stakeholders by offering innovative treatment solutions.

Invion Limited to Hold Virtual AGM in November 2025

Invion Limited has announced that its Annual General Meeting (AGM) will be held virtually on November 26, 2025, allowing shareholders to participate online. This move aligns with recent changes to the Corporations Act 2001, emphasizing digital communication and accessibility. The virtual format ensures shareholders can engage in real-time voting and discussions, reflecting Invion’s commitment to transparency and stakeholder engagement.

Invion Partners with Protect Animal Health to Explore Pet Cancer Treatment

Invion Limited has entered into a collaboration with Protect Animal Health Inc. to explore the use of Photosoft™ technology for treating cancer in companion animals. This partnership aims to tap into the growing pet cancer therapeutics market, which is projected to reach $12.1 billion by 2034. Protect will conduct studies funded by them, potentially leading to a co-development agreement for commercialization if successful. This collaboration aligns with Invion’s strategy to expand the application of Photosoft beyond human health, potentially accelerating commercialization in the companion animal sector.