Pinned valuation:
Board renewal underway. This is the "restructure" PAA had to have. New chairman and CEO to be announced over the next few weeks. Shareholder forum with the new MD to be held on Friday.
All focus on building a Neurodegenerative Disease company, cancer and canine on the backburners.
Monepantel ( MPL ) is the ultimate autophagy enhancer.
Autophagy is like the vacuum cleaner for dead cells, and assists neurogenerative disease by aiding in removing the waste build-up in the brain, causing inflammation and loss of function.
New board on a mission to commercialise MPL.
Open Label Extension Study onboarding results due any day now. Will provide more data on efficacy & safety of MPL for MND - truly stunning results so far, albeit on a small sample size.
ODD decision by FDA will be given by mid-June.
New board has announced lab work to commence immediately on MPL efficacy against more common neurodegenerative diseases such as Parkinson's Disease and Alzheimer's Disease. Expectations are mechanism of action will also benefit these conditions with similar pathogenesis ... let's see !
PharmAust Limited (ASX: PAA & PAAOA) (“PharmAust” or “the Company”), is pleased to announce it has received Orphan Drug Designation (ODD) from the United States (US) Food and Drug Administration (FDA) for monepantel and its treatment of Motor Neurone Disease (MND) / Amyotrophic Lateral Sclerosis (ALS).
Not much of a reaction from the market, share price still down around 50% from the early April highs due to the CEO resignation and board reshuffle