First time straw poster - so please go easy :-)
Was fortunate to catch the NEU train IRL prior to FDA approval (still hold and waiting patiently for Dec NNZ-2591 PH2 read-out), plus have tactical % allocations to other ASX listed biopharma such as IMM, IMU, PAR and TLX.
One have also added recently is DXB (Dimerix).
Their lead candidate drug is DMX-200 currently in PH 3 development - that treats FSGS (Focal Segmental Glomerulosclerosis), being a rare disease that causes kidney scarring and can lead to end-stage kidney disease.
DMX-200 has been granted Orphan drug status by FDA and EMA - with FSGS market size est. at US$3B across the 7 major markets the company is targeting.
They have other drugs such as DMX-700, to treat Chronic Obstructive Pulmonary Disease (COPD). But have stated that DMX-200 is their main focus currently in bringing to market.
The companies strategy is to partner with specialist rare disease Pharma Companies to bring their drugs to market, and recently signed a DMX-200 licensing agreement with ADVANZ Pharma for territories Europe, UK, Canada, Australia, New Zealand.
DXB retains rights to all remaining territories (inc. US) and are currently working on finding additional partners.
Other than strategy and commercial similarities to NEU - What strikes me as interesting is that ADVANZ have agreed to a licensing deal, with upfront payment, sales milestone payments and tiered royalties - prior to FDA approval and prior to an important Phase 3 read-out upcoming ~Mar 15th 2024.
Sep Quarter 4C report, DXB had $6.8 M is cash, and subsequently just received the up-front payment from ADVANZ of A$10.7 M.
Even after this up-front payment, it remains un-clear whether they have enough cash to get DMX-200 to registration stage.
Should additional partnering deals be struck across the next two Quarters, with similar up-front components as with ADVANZ, then likely they will have the required cash to make registration.
Therefore the Mar 15th result read-outs are very pivotal.
DXB has a market cap of ~$60 M so still very much a micro-cap and highly speculative.
Disc: Held IRL and SM
