From Bioshares: Avexa reports further positive data: Avexa has reported data from 39 patients continuing on from its Phase IIb trial with its lead drug candidate, ATC, for treatment of HIV patients with M184V mutation. The data looks very good with more than 85% of patients having a HIV count below detectable levels. The CD4 levels in the patients after 96 weeks also continue to rise confirming the continued action of the drug candidate.
The challenge at this point for the company is to secure a partnering deal for ATC. With the constraints in funding due to the global financial crisis, it is a buyers market at the moment with an increasing number of dbiotechs with Phase II and III programs seeking to complete partnering or licensing deals. As 31 December last year, Avexa had cash of $20.5 million.
Bioshares recommendation: Wait for partnering before investing
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