Pharnext shares gain a quarter on Phase III enrolment for CMT disease trial

Pharnext SCA

30/05/2022 09:15

** Shares in French biotech Pharnext  PHARN.PA  rise around
25%, paring gains of over 62%, after it completes enrolment in a
Phase III trial of its treatment of Charcot-Marie-Tooth disease
    ** Pharnext says it has enrolled 387 patients in its study
of oral drug PXT3003 measuring its effects on functional motor
disability in patients with type 1A of CMT - an inherited
disease that causes progressive muscle weakness 
    ** This must be seen in conjunction with recently announced
data from another Phase III study of PXT3003, says Edison Group
analyst Jyoti Prakash, which showed sustained benefit for CMT
patients after five years of treatment 
    ** "Another sentiment booster" is that Pharnext remains on
track to announce top line data from the study between
October-December 2023, adds Prakash
    ** One of the world's most common inherited neurological
disorders, CMT currently has no cure and treatments range from
orthopaedic devices and leg braces to physical and occupational
therapy and surgery
    ** Pharnext estimates about 1.5 million people have the type
1A disease worldwide, and that at least 5% of those who suffer
its most severe form end up in wheelchairs 

 (Reporting by Sarah Morland)
 ((sarah.morland@tr.com
mailto:sarah.morland@thomsonreuters.com))