Gain Therapeutics, Inc. (GANX) has announced positive results from its Phase 1 study for GT-02287, a potential treatment for Parkinson’s disease. The study found the drug to be safe and well-tolerated in healthy volunteers, with evidence of target engagement in the brain. The company is now planning to start a Phase 2 trial in Parkinson’s patients by the end of 2024.
Mesoblast, a global leader in allogeneic cellular medicines, announced its financial results for the fiscal year ended June 30, 2024, highlighting significant progress in its clinical development programs and a focus on cost containment. The company’s key product candidates, RYONCIL (remestemcel-L) and REVASCOR (rexlemestrocel-L), are showing promise in treating various inflammatory and heart conditions.
Avicanna Inc., a leading manufacturer of cannabinoid-based products, announced impressive second-quarter financial results, highlighting revenue growth of 85% year-over-year and significant progress in clinical trials. The company’s focus on real-world evidence studies and expansion into new markets positions them for continued growth in the medical cannabis space.
DelveInsight’s ‘Chronic Myelomonocytic Leukemia Pipeline Insight 2024’ report highlights the significant progress in the treatment of CMML, a rare blood cancer, with over 22 companies developing 25+ potential therapies. The report details key players, promising drugs like Tipifarnib and IO-202, and recent clinical trial updates.
NRx Pharmaceuticals, a clinical-stage biopharmaceutical company, announced securing up to $16 million in financing to advance its two lead products, NRX-100 and NRX-101, for the treatment of suicidal depression. The financing will also allow the company to retire existing debt from Streeterville Capital.
Despite facing a challenging market environment, Chinese drug developer Sunho Biologics Inc. has received approval for an initial public offering (IPO) to secure funding for its research and development efforts. However, the company’s dependence on external financing and lack of revenue present potential risks for investors. Sunho Biologics aims to raise approximately $50 million through the IPO, which will be allocated towards completing clinical trials for its core products.
Despite a slowdown in sales of AstraZeneca’s (AZN) COVID-19 vaccine, the company has demonstrated significant growth in its core business, with total revenue increasing by 6% and adjusted core EPS jumping by 15% in FY 2024. AZN has a robust pipeline with 178 projects, including 17 new molecular entities in late-stage development. The company’s recent acquisitions and partnerships, such as the acquisition of Icosavax and Gracell Biotechnologies, further strengthen its pipeline and expand its therapeutic areas. Analysts project mid-teens earnings growth for AZN in 2024 and 2025, with net income growth forecast in the range of 9% to 14% annually through this decade. Despite a reasonable valuation, the dividend growth rate may be a limiting factor for some investors.
Despite the approval of Leqembi, the first drug shown to slow Alzheimer’s disease progression, its adoption has been hindered by widespread skepticism and therapeutic nihilism among healthcare professionals. This reluctance stems from concerns about the drug’s efficacy, cost, and risks, as well as a long-held belief that Alzheimer’s is an incurable disease. However, advocates emphasize the potential benefits of Leqembi in delaying cognitive decline and providing hope to patients and families.
Hepion Pharmaceuticals Inc. (HEPA) has announced the wind-down of its ASCEND-NASH Trial, a Phase 2b study evaluating the safety and efficacy of rencofilstat for the treatment of non-alcoholic steatohepatitis (NASH). The decision was made due to resource constraints and the low probability of generating sufficient efficacy data to support a registrational trial. Approximately 80 subjects have completed their Day 365 visits and will be evaluated for safety and efficacy, while an additional 40 subjects will provide safety data. There were no safety concerns observed for rencofilstat in the trial.
