Australia's Neuren Pharma soars on positive phase-3 trials of Rett syndrome treatment

Hanall Biopharma

07/12/2021 24:16

** Shares of biopharma co Neuren Pharmaceuticals  NEU.AX 
rise as much as 102.9% to A$3.450, set for their best day since
July 1, 2009
    ** Co's North American partner Acadia Pharmaceuticals
 ACAD.O  announces positive positive results from Phase-3 study
evaluating the efficacy of trofinetide in girls with Rett
syndrome, a genetic disorder causing slower growth  urn:newsml:reuters.com:*:nASXblshVG
    ** Says trofinetide, co's lead compound for two new drug
therapies to treat multiple neurological disorders emerging, in
early childhood, met key primary and secondary endpoints in the
study
    ** Co would earn revenue of A$111 mln ($78.22 mln) over 2022
and 2023 for Rett syndrome in the U.S. alone the if the Food and
Drug Administration approves New Drug Application (NDA) and
trofinetide is launched in the U.S. - NEU
    ** Adds that Acadia plans to launch NDA for the same around
mid-year 2022
    ** Shares hit their highest since May 21, 2018
    ** Volumes are over 19.7 times the 30-day average of 217,838
shares, marking Neuren's busiest trading day since Feb. 2020
    ** NEU has gained 32.3% this year, as of last close

($1 = 1.4190 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))