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Neuren revises guidance, pauses trading
2 hours ago
Joseph Carbone
Listed pharmaceutical company Neuren Pharmaceuticals pauses trading, revising second quarter financial outlook off the back of weaker net sales from American partner Acadia.
Acadia, which offers the DAETUBE drug to treat Rett syndrome, updated guidance for FY24 net sales to a range of $US340m to US$370m, earning Neuren royalties of A$55m-A$61m and milestone sales revenue of A$77m.
The royalties guidance is down from the previously expected A$61m-A$70m.
The company blamed slower-than-expected growth in net number of patients taking up the drug.
NEU last traded at $17.09 per share.
https://www.theaustralian.com.au/bu...ive-coverage/b4f96b1b045f8990f77637bd67e63cc1
Oops not currently held.
cheers
Ann: Q2 2024 update, page-28
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