Mithra jumps as Fuji Pharma filed Estelle for dysmenorrhea
23/10/2023 12:29
** Shares in Mithra MITRA.BR jump 7.2 p% at 1305 GMT,
paring gains after rising as much as 19.6%, as the Belgian
pharmaceutical group said Japan's Fuji Pharma submitted a
regulatory filing for its drug Estelle for dysmenorrhoea
patients
** The filing triggered a payment of 2.5 million euros
($2.65 million) and another 10 million euros milestone payment
is expected at approval of the marketing authorization, the
group said on Monday
** KBC's analyst notes that this news follows two earlier
1.25 million euros milestone payments after completion of Phase
3 trials for contraception in Europe and the US, as well as for
positive Phase 3 topline results in Japanese patients with
dysmenorrhea or endometriosis
** "While we do not anticipate a major impact on the overall
Mithra business case or the company's financials, the news
supports the strong clinical profile of Estelle", the broker
says
** Dysmenorrhoea is commonly known as menstrual cramps,
driven by, amongst others, lower abdominal pain and back pain
($1 = 0.9428 euros)
(Reporting by Diana Mandiá)
((diana.mandiaalvarez@thomsonreuters.com))