Antisense Therapeutics (ASX:ANP) is Power’s stock of the week after a Steven Bradbury moment where its US competitor FibroGen’s lead candidate, pamrevlumab, failed to meet primary and secondary endpoints in a Phase 3 trial for Duchenne muscular dystrophy (DMD).
Power says its lead program is ATL1102, an antisense oligonucleotide treatment for DMD and other diseases.
The company is currently undertaking an international double-blind, placebo-controlled Phase 2b trial with positive clinical data from prior single-arm Phase 2a study.
He says ATL1102 is a late-stage asset with substantial commercial opportunity with ~300,000 DMD patients worldwide. Existing therapies are priced up to US$300K per treatment year with a total market estimated at ~US$4 billion per annum forecast to rise to ~US$10 billion by 2030.
ANP says ATL1102 is potentially applicable to almost all DMD patients, not just those with specific genetic mutations (mutation agnostic), with the drug showing potential applications for ATL1102 in other disease areas.
Power says ANP, which includes former CSL staff on the board and part of its clinical team, has potential to be a Neuren Pharmaceuticals (ASX:NEU), which this year obtained key US FDA approval for trofinetide to treat Rett Syndrome.
“It’s targeting a rare disease, in late stage clinical trial and if they’re successful the prize is large,” Power says.
ANP Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
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