Living Cell Technologies Limited (LCT)



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General Information
Company Name: Living Cell Technologies Limited
Stock Code: LCT
Website: www.lctglobal.com
GICS Sub-Industry: Biotechnology
Market Cap ($M): 32
Equiv. Shares (M): 406

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.078 $ 0.077 $ 0.078 $ 0.074 $ 0.078 330,103 0%

Company Overview

Business Description:
Living Cell Technologies (LCT) develops cell therapies to treat diseases with high unmet clinical needs. The Australasian biotechnology company is a global pioneer in the field of cell encapsulation and implantation for human therapeutics. To date, the company has taken two therapeutic candidates into clinical development: DIABECELL® for the treatment of type 1 diabetes and NTCELL®, which is in Phase I clinical trials in New Zealand for the treatment of Parkinson’s disease.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A -6.8 -1.9 -- 0.0 0.0 0.0 --
2013  A -3.0 -0.8 -- 0.0 0.0 0.0 --
2012  A 5.7 1.7 -- 3.7 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Bionomics (BNO) $205 M -- 6.3117 0.3108 63.6364 8.7034 6.6396 0.00 0.00 0.00
CSL (CSL) $37,337 M 0.0899 0.2412 0.0806 27.5143 22.1683 20.5147 1.53 1.83 2.04
Living Cell (LCT) $31 M -- -- -- -- -- -- 0.00 -- --
Mesoblast (MSB) $1,280 M -- -- -- -- -- -- 0.00 0.00 0.00
Sirtex Medical (SRX) $1,475 M 0.2906 0.5155 0.3526 63.1961 41.7000 30.8292 0.54 0.66 1.06

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
LCT -- -- 3.31 -- 3.77
Market 1.14 13.5 0.99 1.03 3.03
Sector 0.81 18.0 2.78 1.24 7.45

Directors
Name Position Start Date
Professor Robert Bartlett Elliott Medical Director 15 January 2004
Mr Robert Moyse Willcocks Non-Executive Director 29 March 2011
Mr Laurrie Hunter Non-Executive Director 25 August 2006
Dr Bernard Tuch Non-Executive Director 19 July 2011
Mr Roy James Austin Non-Executive Director,Non-Executive Chairman 25 February 2011

Management
Name Position
Kenneth (Ken) P Taylor Chief Executive Officer
Nicholas (Nick) John Victor Geddes Company Secretary
John Cowan Head of Finance & Administration

Substantial Shareholders
Holding Name
12,329,061 (3.45%) K One W One Limited
25,610,891 (7.17%) Persistency Private Equity Limited (formerly Prospector Limited)
24,150,408 (6.76%) Palmert Members Limited
24,150,408 (6.76%) Coalco International Limited
25,000,000 (7.00%) Otsuka Pharmaceutical Factory, Inc

Calendar of Events
Date Event
16 October 2015 Report (Annual)
14 August 2015 Report (Prelim)
24 February 2015 Report (Interim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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