From Euroz Hartleys notes today:
DXB (Dimerix Ltd, +1.8% to 58.0cps, m.cap A$332m, Biotechnology): Seth Lizee
- The first clinical trial site in Japan for DXB’s ACTION3 Phase 3 study has opened for recruitment.
- This milestone has triggered a ¥400 million (~A$4.3 million) development payment from DXB’s Japanese partner, FUSO Pharmaceutical Industries, with payment expected within 30 days.
- Approximately 20 patients are planned to be recruited in Japan to support potential regulatory approval in the country.
- FUSO is one of four regional licensing partners for DXB’s lead asset, DMX-200.
- Together, these licensing agreements represent up to ~A$1.4 billion in total upfront payments and potential milestone payments, plus royalties on net sales.
- DXB remains focused on the successful execution of the ACTION3 Phase 3 trial and licensing opportunities in unpartnered territories.
- We have a Speculative Buy Recommendation and $1.68 Price Target.
- You can click here to login to the research portal to view our research on this company.
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