Generous upfront, higher than generally expected - ~A$145m payable within 10 days. Provides Neuren with more firepower to develop NNZ-2591 in Phase 3, if preferred, and a stronger negotiating position if it chooses to sell out post-Phase 2 NNZ-2591 results (which I think it will).
Higher royalties than for Daybue in US – mid-teens to low 20’s.
Higher probability now of Fragile-X being developed further, meaning more value may now be given to this asset. Analysts (and myself) had almost written off the chance of Fragile-X being advanced.
Welcome early update on Daybue US sales, with sales in just the second quarter to likelyreach ~A$75m.
Welcome early feedback of benefits from Daybue treatment already being reported by carers and healthcare providers.
A special well done to Gerry Zhao!
NEU Price at posting:
$13.58 Sentiment: Hold Disclosure: Held
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