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Noxopharm Limited

NOX.AX
6
Biotechnology · Healthcare
Price
A$0.09
-0.00 (-2.17%)
Market Cap
A$27.7M
Exchange
Australian Securities Exchange
Winston Score
6
Winston is worried
Weak fundamentals across most pillars.
Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.
Data as of Aug 27, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Weak
Stability
Weak
Valuation
Data not available

Share count rising — dilution

+10.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 263.9M (2021) → 292.5M (2025)

Winston Score History

The full picture

Noxopharm Limited is an Australian drug development company with an international reach, focused on pioneering new treatment options for a range of solid tumor cancers and septic shock. Its primary asset, Veyonda, functions as an adjuvant therapy designed to augment the effectiveness of chemotherapy and radiotherapy in treating late-stage cancers. Beyond Veyonda, the company's robust development pipeline encompasses several key programs: The DARRT program, currently in Phase 1b/2a clinical trials, is addressing metastatic castration-resistant prostate cancer and other solid tumors. The LuPIN program explores a combined therapy of Veyonda and 177Lu-PSMA-617 for advanced prostate cancer. The IONIC program combines Veyonda with Bristol Myers Squibb's checkpoint inhibitor, Opdivo, targeting various solid tumor types. Its Chemotherapy Enhancement Program (CEP) integrates Veyonda with carboplatin for patients suffering from refractory solid tumors in areas such as the breast, head and neck, lung, prostate, and ovaries. Furthermore, the NOXCOVID Program is conducting a dose escalation and expansion study of NOX66 for the treatment of COVID-19 infection. The company is also investigating potential treatments for pancreatic cancer and glioblastoma. Noxopharm collaborates with the Hudson Institute of Medical Research and The Australian National University on the research and development of therapeutic drugs for inflammatory disorders. Incorporated in 2015, the company's operations are based in Chatswood, Australia.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-50.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$4M/ year

Rising (+45% vs prior year)

151.2% of revenue

8.4x the sector average (18%)

Investing heavily in future products and technology

Cash Runway

~0 months

A$91,402 cash & investments

Short runway — potential dilution ahead through share issuance

Heavy R&D investment

Noxopharm Limited is putting 151% of revenue into R&D and that number is rising. That's 8.4x the sector average.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
-51.2%
Thin — -51.2% gross margin
Profit after running costs
Operating Margin
-342.1%
Losing money on operations — -342.1%
Return on the money invested
ROCE
-304.5%
Weak — -304.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+17.5%
Fast-growing sales (+17.5% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
N/A
Data not available

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-206.5%
Burning cash (-206.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
3.59
Heavy debt load (3.59)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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