Starpharma Holdings Limited (AU:SPL)
ASX:SPL
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Starpharma Holdings Limited
(Sydney:SPL)
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Rating:47Neutral
Price Target:
AU$0.67
▲(76.32% Upside)
Action:Reiterated
Date:05/20/26
The score is primarily weighed down by weak financial performance, especially ongoing losses and negative operating/free cash flow, despite solid revenue growth and conservative leverage. Technicals are mixed: oversold signals are supportive, but the stock remains below its short-term moving average. Valuation appears demanding (P/E 27.578) given profitability and cash flow challenges.
Positive Factors
Proprietary dendrimer platform & licensing model
Starpharma's proprietary dendrimer platform and licensing/collaboration revenue model create durable, scalable revenue streams. Partner-funded development, milestone and royalty structures reduce the firm’s need to self-fund all clinical risk, supporting commercialization without sole reliance on internal product sales.
Negative Factors
Negative operating and free cash flow
Persistent negative operating and free cash flow reduces the company’s ability to self-fund development and commercialization, increasing reliance on external financing or partner deals. Over months this limits strategic optionality and can lead to dilution or delayed programs if cash generation doesn't improve.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary dendrimer platform & licensing model
Starpharma's proprietary dendrimer platform and licensing/collaboration revenue model create durable, scalable revenue streams. Partner-funded development, milestone and royalty structures reduce the firm’s need to self-fund all clinical risk, supporting commercialization without sole reliance on internal product sales.
Read all positive factors
Starpharma Holdings Limited (SPL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$282.02M
Dividend YieldN/A
Average Volume (3M)724.95K
Price to Earnings (P/E)―
Beta (1Y)1.48
Revenue Growth364.97%
EPS Growth74.50%
CountryAU
Employees40
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding420,928,440
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)>-0.01
Revenue Forecast (FY)N/A
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 collaboration revenues tied to its dendrimer technology (including payments such as upfront fees, milestone payments, and royalties when partners commercialize products that use the techno...
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
0.38
Price Trends
0.66
Positive
0.55
Positive
0.43
Positive
Market Momentum
0.01
Positive
49.05
Neutral
23.59
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 0.38 is below the 20-day moving average (MA) of 0.67, below the 50-day MA of 0.66, and below the 200-day MA of 0.43, indicating a bullish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 49.05 is Neutral, neither overbought nor oversold. The STOCH value of 23.59 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% | |
48 Neutral | AU$84.75M | -17.62 | -142.30% | ― | -45.25% | 40.54% | |
47 Neutral | AU$282.02M | -88.16 | -15.96% | ― | 364.97% | 74.50% | |
45 Neutral | AU$57.42M | -0.51 | -131.13% | ― | 2086.71% | -116.20% | |
44 Neutral | AU$102.07M | -6.07 | -278.87% | ― | 1219.92% | 38.88% | |
41 Neutral | AU$141.70M | -4.78 | 279.21% | ― | ― | -37.23% | |
40 Underperform | AU$69.26M | -0.82 | -69.20% | ― | ― | -73.11% |
* Healthcare Sector Average
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Starpharma Holdings Limited Corporate Events
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...
Starpharma Secures FDA Backing for DEP HER2 First-in-Human Trial Pathway
Apr 21, 2026
Starpharma has received positive guidance from the U.S. FDA on the clinical development strategy and first-in-human phase 1 trial design for its DEP HER2 radiotherapy candidate, a dendrimer-based conjugate targeting HER2 receptors with a lutetium-...
Starpharma Seeks ASX Quotation for Over 1 Million New Shares
Apr 6, 2026
Starpharma Holdings Limited has applied to the ASX for quotation of 1,012,747 new fully paid ordinary shares under the code SPL, issued on 11 March 2026 following the exercise or conversion of existing options or other convertible securities. The ...
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.