Ann: Trading Halt, page-222

Neuren in trading halt pending trial results

The countdown is nearly over for Power’s pick for last week Neuren Pharmaceuticals (ASX:NEU) to release its long-awaited results of Phase 2 clinical trial of NNZ-2591 in Phelan-McDermid syndrome (PMS) results.

The 2023 market darling of the biotech sector has entered a trading halt pending release of the results, anticipated for Monday.

In March the USA FDA approved its compound trofinetide (now called DAYBUE) for Rett’s syndrome, the first drug for the treatment of the rare neurological disorder which emerges in infancy.

However, NEU CEO Jon Pilcher told * upon FDA approval of DAYBUE that NNZ-2591 is even more valuable to the company.

“I’ve been saying for a long time it’s worth a lot more to us than trofinetide,” Pilcher says.

“They are both involved in the biology of IGF-1 in the brain, which is growth factor critical for normal brain development and maintenance.

“The number of patients we are looking to target with NNZ-2591 is five times the patients of Retts syndrome.”

Power says NNZ-2591 is NEU’s second generation compound, a smaller peptide, and easier to manufacturer with patients receiving lower doses.

“We have been waiting for this very event and will find out the answer very soon so it will be big news for Neuren,” he says.

“We are confident it will be positive and continue to attract investors into the sector more broadly.”