Edison Issues Report on Percheron Therapeutics (PER)

London, United Kingdom–(Newsfile Corp. – September 19, 2025) – Edison issues report on Percheron Therapeutics (ASX: PER).

Percheron Therapeutics is an emerging immuno-oncology-focused biotech with a business case anchored on its recent in-licensing of HMBD-002, a Phase II-ready, potentially first-in-class anti-VISTA immune checkpoint inhibitor. HMBD-002’s prospects are underpinned by wide expression of VISTA on tumour cells and a mechanistically distinct IgG4 backbone, allowing for non-depleting VISTA inhibition, overcoming a key limitation of other IgG1 anti-VISTA antibodies. Supported by encouraging preclinical and Phase I data, management plans to commence Phase II trials in CY26, a key upcoming catalyst for a share price re-rating. We view Percheron as high-risk, high-reward, with potentially sizeable upside optionality from broad labelling potential. Cash reserves of A$10.2m should provide a runway into FY27. We initiate coverage with a valuation of A$66.7m or 6.1c/share.

Click here to read the full report.

All reports published by Edison are available to download free of charge from its website
www.edisongroup.com

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

Connect with Edison on:

LinkedIn www.linkedin.com/company/edison-group-/
X www.x.com/edison_inv_res
YouTube www.youtube.com/edisonitv

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/267122