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- Neuren Pharmaceutical (NEU) is expecting key milestones to be achieved in 2021
- The company is advancing its treatments for multiple serious conditions
- Just last week, Neuren added rare genetic condition Prader-Willi syndrome to the development pipeline for its NNZ-2591 treatment
- Neuren is also currently awaiting its results phase three trial for Rett Syndrome, which is expected in the second half of 2021
- At the end of the financial year, the company had cash reserves of $24.2 million, higher than 2019’s $13.8 million
- Neuren is up 3.04 per cent on the market this afternoon and is trading at $1.36 per share
Neuren Pharmaceutical (NEU) is expecting key milestones to be achieved in 2021.
The company is currently advancing its treatments for multiple serious conditions that emerge in childhood and have no current approved medicines.
“During 2020 we achieved all targeted milestones, which means that Neuren is in an extremely strong position with the potential for 2021 to be a transforming year,” CEO Jon Pilcher said.
Just last week, Neuren added rare genetic condition Prader-Willi syndrome to its development pipeline for its NNZ-2591 treatment.
Additionally, the company is awaiting the results from its LAVENDER phase three trial of trofinetide, which are expected in the second half of 2021.
The LAVENDER is testing the therapy in woman and girls with Rett Syndrome, a neurodevelopment disorder arising from a rare gene mutation.
“We are focused on the results of the trofinetide phase three trial in Rett syndrome in H2 2021, executing the optimum commercial strategy for Europe and
Asia, and obtaining FDA clearance before commencing the NNZ-2591 phase two trials,” Jon told the market.
“These approaching events have the potential to transform Neuren’s corporate profile,” he added.
Financials
For the financial year ended in December 21, Neuren posted a loss after tax of $9.2 million, which is smaller than previous year’s $10.8 million loss.
Research and development costs hit $2.1 million lower due to lower expenditure relating to the Rett Syndrome phase three trial.
At the end of the period, the company’s cash reserves stood at $24.2 million, higher than 2019’s $13.8 million.
Neuren is up 3.04 per cent on the market this afternoon and is trading at $1.36 per share at 12:50 pm AEDT.
