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Dimerix Ltd's valuation more than doubles after Kathy Harrison delivers results

Dimerix's valuation has doubled in the past month.
Dimerix Ltd's valuation more than doubles after Kathy Harrison delivers results
Kathy Harrison, chief executive officer, recently presenting at Proactive's CEO Sessions

Dimerix Ltd's (ASX:DXB) shares continue to rally on the back of positive results from its Phase 2a Trial of DMX-200 in Chronic Kidney Disease (CKD).

At the open of trade Dimerix is changing hands at $0.015 per share, which is double the valuation a month ago before the results.

Why the change in valuation

The importance of Dimerix's Phase 2a results is that the trial meets the primary safety endpoint and demonstrates encouraging efficacy in a clinically meaningful number of patients.

- 25% of patients achieved a greater than 50% reduction in proteinuria, beyond that achieved with the highest dosage of current standard of care therapy; and

- 45% of patients granted ability to continue ongoing treatment under Special Access Scheme upon recommendation of their advising physician, confirming confidence in the treatment.

The clinically meaningful reductions in proteinuria are highly encouraging and support the rationale behind the program.

Given this is a “hard to treat” patient group, Dimerix now have a very strong indication that the treatment is having a significant impact in slowing the progression of CKD.

Market for Chronic Kidney Disease

CKD is a growing global health problem affecting over 13% of Australians, and 14% of Americans.

The increase in suffers is due to large number of people living with obesity and diabetes.

The problem is that damaged kidneys “leak” proteins into the urine, known as proteinuria.

This compounds itself which leads to damage of the kidneys.

Next steps

Preparations are well underway to design the Phase 2b efficacy study for DMX-200.

Using the inputs from this Phase 2a study, Dimerix will now finalise design of the patient inclusion criteria, dosing and timetable, which is expected to start by the end of 2017.

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Dimerix Ltd Timeline

January 23 2017

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