- Patrys (PAB) postpones its planned PAT-DX1 clinical trial for up to six months due to global manufacturing and supply chain delays
- Toxicology studies and ethics submission for the company's cancer antibody candidate have been pushed back to Q1 CY22 and H2 CY22, respectively
- Patrys attributed the delays entirely to COVID-induced supply chain issues
- Patrys Chief Executive Officer and Managing Director Dr James Campbell says the delays are disappointing for its team and shareholders
- Patrys shares are down 16.3 per cent to trade at 4.1 cents at 11:59 am AEST
Patrys' (PAB) planned PAT-DX1 clinical trial will be postponed for up to six months due to global manufacturing and supply chain delays.
The company notified investors its manufacturer was anticipating delays in securing components used for PAT-DX1 production, Patrys' cancer antibody candidate.
As a result of the delays, Patrys has pushed back the engineering run for PAT-DX1 to the end of this year and toxicology studies to the first quarter of 2022.
A submission for human research ethics application for a phase one clinical trial is now expected in the second half of 2022.
Patrys attributed the delays entirely to COVID-19 impacts on global reagent production — a substance or compound typically used in tests to determine a level of reaction — and supply chain issues.
The ASX-lister reiterated these delays were beyond Patrys' and its contract manufacturer's control.
The company is also unable to seek out alternative suppliers due to the proprietary nature of said reagents .
Patrys Chief Executive Officer and Managing Director Dr James Campbell said the delays were disappointing for its team and shareholders.
"This delay is based solely on global supply chains, not technical obstacles, and highlights the many ways that the COVID-19 pandemic is impacting on our lives, including disrupting the production of critical medical products and services," he said.
"We continue to work with our global suppliers to prepare for and initiate the first
PAT-DX1 clinical trial in late 2022."
Planning for the campaign commenced over 12 months prior.
Patrys shares were down 16.3 per cent at 11:59 am AEST to trade at 4.1 cents.