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Starpharma Holdings Limited
(Sydney:SPL)
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Rating:49Neutral
Price Target:
AU$0.71
▲(2.32% Upside)
Action:Reiterated
Date:07/18/26
The score is primarily constrained by weak financial performance—ongoing losses, negative ROE, and negative operating/free cash flow—despite solid revenue growth. Technicals provide partial support with price above major moving averages and mildly positive momentum, but valuation remains pressured due to losses reflected in the negative P/E and no dividend yield data.
Positive Factors
Proprietary dendrimer platform
Starpharma’s owned dendrimer platform is a durable competitive asset: it supports multiple applications (drug delivery, anti-infective, topical) and can be licensed or used for internal product development. This platform approach enables repeated partner deals and long-term IP-based upside across therapeutic and consumer markets.
Negative Factors
Persistent unprofitability
The firm remains unprofitable with negative EBIT, net margins and return on equity. Persistent losses erode equity value and mean operations are not yet self-sustaining; without durable margin improvement or commercialized high-margin products, long-term value creation depends heavily on successful R&D outcomes or partner monetization.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary dendrimer platform
Starpharma’s owned dendrimer platform is a durable competitive asset: it supports multiple applications (drug delivery, anti-infective, topical) and can be licensed or used for internal product development. This platform approach enables repeated partner deals and long-term IP-based upside across therapeutic and consumer markets.
Read all positive factors
Starpharma Holdings Limited (SPL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$357.79M
Dividend YieldN/A
Average Volume (3M)724.95K
Price to Earnings (P/E)―
Beta (1Y)1.53
Revenue Growth364.97%
EPS Growth74.58%
CountryAU
Employees40
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding477,052,220
10 Day Avg. Volume366,126
30 Day Avg. Volume724,950
Financial Highlights & Ratios
PEG Ratio-0.19
Price to Book (P/B)1.93
Price to Sales (P/S)7.47
P/FCF Ratio-5.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)AU$24.00M
Starpharma Holdings Limited Business Overview & Revenue Model
Company Description
Starpharma Holdings Limited is a biopharmaceutical enterprise focused on the research, development, and global commercialization of dendrimer-based products for the pharmaceutical, life sciences, and other industries. Its current offerings include...
How the Company Makes Money
Starpharma makes money primarily through (1) licensing and partnering revenue linked to its DEP® drug delivery platform and (2) sales and commercial arrangements related to products that use its dendrimer technology (including VivaGel®/Astodrimer ...
Starpharma Holdings Limited Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.26M | 4.91M | 8.29M | 2.94M | 4.68M | 1.80M |
| Gross Profit | 8.57M | 3.69M | 7.66M | 1.22M | 1.91M | 539.50K |
| EBITDA | -8.00M | -10.93M | -9.63M | -22.08M | -22.34M | -26.05M |
| Net Income | -3.23M | -9.99M | -8.16M | -15.64M | -16.15M | -19.73M |
Balance Sheet | ||||||
| Total Assets | 26.17M | 25.42M | 36.81M | 52.09M | 66.17M | 73.24M |
| Cash, Cash Equivalents and Short-Term Investments | 18.25M | 15.41M | 23.36M | 35.18M | 49.92M | 60.50M |
| Total Debt | 790.00K | 2.40M | 3.53M | 8.27M | 8.19M | 1.17M |
| Total Liabilities | 4.69M | 6.42M | 8.70M | 17.27M | 17.78M | 10.94M |
| Stockholders Equity | 21.48M | 19.00M | 28.12M | 34.81M | 48.39M | 62.30M |
Cash Flow | ||||||
| Free Cash Flow | -1.10M | -6.80M | -7.07M | -14.15M | -14.00M | -15.05M |
| Operating Cash Flow | -852.00K | -6.76M | -6.98M | -13.53M | -13.16M | -14.81M |
| Investing Cash Flow | -248.00K | -42.00K | -89.00K | -610.00K | -836.00K | -246.00K |
| Financing Cash Flow | -870.00K | -1.13M | -4.75M | -695.00K | 3.23M | 46.30M |
Starpharma Holdings Limited Technical Analysis
Positive
0.69
Price Trends
0.69
Positive
0.63
Positive
0.50
Positive
Market Momentum
<0.01
Positive
47.26
Neutral
51.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SPL, the sentiment is Positive. The current price of 0.69 is below the 20-day moving average (MA) of 0.71, below the 50-day MA of 0.69, and above the 200-day MA of 0.50, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.26 is Neutral, neither overbought nor oversold. The STOCH value of 51.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SPL.
Starpharma Holdings Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | AU$147.10M | -9.01 | -278.87% | ― | 1219.92% | 38.88% | |
49 Neutral | AU$357.79M | -97.40 | -15.96% | ― | 364.97% | 74.58% | |
48 Neutral | AU$51.95M | -0.41 | -131.13% | ― | 2086.71% | -116.20% | |
41 Neutral | AU$113.04M | -3.27 | 279.21% | ― | ― | -37.23% | |
40 Underperform | AU$67.79M | -0.80 | -69.20% | ― | ― | -73.11% | |
40 Underperform | AU$65.20M | -66.67 | -142.30% | ― | -45.25% | 40.54% |
* Healthcare Sector Average
AU:SPL
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-1.33%
Starpharma Holdings Limited Corporate Events
Starpharma launches $32m entitlement offer to fund oncology pipeline
Jul 23, 2026
Starpharma Holdings has launched a fully underwritten 1-for-7.5 pro-rata renounceable entitlement offer to raise about $32 million through new shares priced at $0.57. The funds will support completion of first-in-human and dose-escalation stages o...
Starpharma launches $32m entitlement offer to fund oncology pipeline
Jul 23, 2026
Starpharma Holdings Limited has launched a fully underwritten 1-for-7.5 renounceable pro-rata entitlement offer at $0.57 per new share to raise approximately $32 million from existing shareholders. The offer, managed and underwritten by Canaccord ...
Starpharma outlines underwritten entitlement offer to shareholders
Jul 14, 2026
Starpharma Holdings Limited has released an investor presentation outlining plans for an underwritten renounceable pro-rata entitlement offer of new fully paid ordinary shares to existing shareholders. The offer will be conducted under section 708...
Starpharma launches $32m entitlement offer to fund dendrimer oncology pipeline
Jul 14, 2026
Starpharma Holdings Limited has launched a fully underwritten, renounceable pro rata entitlement offer to raise about $32 million through the issuance of roughly 56 million new shares at $0.57 each. The offer, underwritten by Canaccord Genuity, is...
Starpharma Advances DEP Radiopharmaceuticals and Strengthens Oncology Partnerships
Jul 14, 2026
Starpharma reported further progress in its dendrimer-based oncology pipeline, completing the preclinical data package and GMP manufacture for its lead radiopharmaceutical candidate DEP HER2-Lu, with Phase 1 first-in-human trials targeted for the ...
Starpharma Showcases DEP HER2 Cancer Program in Investor Webinar
Jul 7, 2026
Starpharma has highlighted its DEP® HER2 program in an investor webinar, showcasing a preclinical data package and outlining its planned clinical development pathway for the candidate. The event underscores the company’s efforts to tran...
Starpharma Hits DEP® Milestone, Opens Licensing Path With Radiopharm
Jul 2, 2026
Starpharma has reached a key milestone in its collaboration with Radiopharm Theranostics, triggering a AUD $0.5 million option fee linked to its proprietary DEP® dendrimer technology. The milestone follows completion of initial development an...
Starpharma Wins FDA Backing for DEP HER2 Trial as Partnerships and Product Sales Advance
Apr 29, 2026
Starpharma reported strong operational momentum in the March quarter, highlighted by U.S. FDA alignment on the first-in-human phase 1 trial design for its DEP® HER2 radiotherapeutic, a targeted lutetium-177 dendrimer conjugate for advanced HE...
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.