Neuren Pharmaceuticals (NEU) Neuren Pharmaceuticals is a drug development company with two key rare disease assets: 1) the commercially available treatment Daybue (trofinetide), which will continue to provide ongoing royalty/ milestone income to NEU; and 2) NNZ-2591, which is undergoing clinical development and will commence its first Phase 3 trial in “mid CY25”. With A$341m cash and no debt as of 31-March-2025, we remain confident NEU will be able to fund multiple Phase 3 trials and recruit the 160 subjects for the first Phase 3 trial relatively smoothly. We view NNZ-2591 as the key value driver for NEU and remain optimistic about its prospects for success following promising Phase 2 data. As the Phase 3 trial proceeds through recruitment across CY25-26, we expect the share price to further appreciate as the readout draws nearer. Buy, Price Target $20.00
NEU Price at posting:
$12.54 Sentiment: Buy Disclosure: Held
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