PaxMedica up as sleeping sickness medication meets primary study goal

Kuvatris Therapeutics

24/07/2023 14:06

** Shares of PaxMedica Inc  PXMD.O  up 22.5% at 98 cents
premarket 
    ** Co says its experimental Stage 1 African sleeping
sickness medication, PAX-101, met primary late-study goal 
    ** PAX-101 is a suramin injection in development to treat
infections caused by parasites
    ** Primary goal of the study was survival and not meeting
any of the supportive descriptive criteria
    ** Co says PAX-101 demonstrated better health outcomes vs a
natural history control group of patients evaluated and treated
from 1900-1910, prior to the availability of suramin in Africa
    ** Suramin-treated patients had a far lower rate of death or
progression to Stage 2 compared with the natural history cohort
- company
    ** PXMD is expecting to file an NDA with U.S. FDA for the
use of PAX-101, in 2024
    ** Up to last close, stock down 60.4% this year

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))