I recently caught up withDr. Michael Thurn,Managing Director and CEO ofPharmAust Limited(PAA.asx), to discuss thecompany's recent milestone achievements.
PharmAustis currentlytrading at 21.5c giving them anEV of approximately $97m, as of their last quarterly report, theyheld over $10.5m in the bank.
This doesn't include arecentinstitutional placement to raise $10m @ 19calong with a recently completedshare purchase plan (SPP) which raised $7.8m @ 19c.
This SPP was significantly in excess of the initial target of $2m,you wouldn't see many take ups like that in this market !!!
The strong support by existing shareholdersis a vote of confidence for the exciting opportunity ahead for monepantel, and the recent refresh to the Board of Directors and management team which I won't go into,you can DYOR.
PharmAust Limitedis a mid-stage biotechnology company focused on repurposing monepantel(MPL)for the treatment of amyotrophic lateral sclerosis(ALS), a form of motor neurone disease(MND).
ALSis a devastating disease that affects nerve cells in the brain and spinal cord, leading to muscle weakness and eventually paralysis.
According to Allied Market Research, theglobal ALS market size was valued at US$662.3m in 2022 and is projected to reach US$1,038.94m by 2032, growing at a compounded average growth rate (CAGR) of 4.6%.
PharmAustaims to leverage MPL's potent inhibition of the mTOR pathway, which plays a central role in the growth and proliferation of degenerating neurons.
Recently,PharmAust announced thatMPL has been selectedfor inclusion in the prestigious HEALEY ALS Platform Trial under a Clinical Research Support Agreement with Massachusetts General Hospital.
This innovative Phase 2/3 trialallows multiple investigational treatments to be tested simultaneously, aiming to expedite development timelines, reduce study costs, and increase patient access.
The inclusion in this platform trial is a significant validation of MPL's potential as an ALS treatment and offers PharmAust substantial exposure within the global ALS research community.
The trial aims to commence in the second half of 2024 and couldpotentially lead to accelerated approval with the US FDA for MPL in 2026.
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