Nice bit of publicity.

Neuren Pharmaceuticals’ 53% share price jump prompts ASX query

Thursday, October 25, 2012 by Angela Kean

Neuren Pharmaceuticals (ASX: NEU) has witnessed increased investor interest of late, with a 53% share price rally earning the company a price and volume query from the ASX.

Shares rose to an intra-day high of $0.043 yesterday, up from a close of $0.028 a week earlier.

The ASX also noted an increase in the volume of shares traded, with over 77 million shares changing hands over the week.

Neuren responded to the query saying it is not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest.

The company’s NNZ-2566 program was recently nominated as one of the Top 10 Neurosciences Projects to Watch by Windhover Conferences, a division of Elsevier Business Intelligence.

Neuren is developing new therapies for brain injury, neurodevelopmental and neurodegenerative disorders and cancer.

NNZ-2566 is a synthetic analogue of a naturally occurring neuroprotective and neurotrophic molecule derived from IGF-1, a growth factor produced by brain cells as well as in other parts of the body.

The intravenous form of NNZ-2566 is currently in a phase two clinical trial in patients with moderate to severe traumatic brain injury which has received Fast Track designation from the U.S. Food and Drug Administration.

Neuren is undertaking final preparations to initiate two additional phase two trials with the oral form of NNZ-2566 – one in patients with concussion or mild traumatic brain injury and one in patients with Rett Syndrome.

The company received a US$600,000 grant earlier this year from the International Rett Syndrome Foundation to support a phase two clinical trial of NNZ-2566 in patients with Rett Syndrome.

Rett Syndrome is a postnatal neurological disorder which occurs almost exclusively in females following apparently normal development for the first six months of life.