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e-Therapeutics growth slows but Neil Woodford keeps faith

It's been a tough year for e-Therapeutics, but the small biotech company could still attract interest from bigger industry players

e-Therapeutics (ETX), like many other small biotech stocks, is hard to value. When we floated a speculative buy call in May 2014, things were looking promising for the group. But progress has not been as dynamic as investors (including the famed Neil Woodford), may have hoped, and it's hard to really spot any imminent share price catalysts in the recent end of year statement.

IC TIP: Hold at 15.5p

The group's first drug ETS6103 - for the treatment of clinical depression - remains in the early stages of the clinical trials process, and while results have been encouraging, e-Therapeutics is not willing to move on to costly Phase 3 clinical trials without a licensing partner. The second, much more lucrative oncology drug ETS2101, has had a pretty disappointing year as current clinical trials have been abandoned due to dosage problems.

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