Pharmaxis Ltd (ASX:PXS) chief executive Gary Phillips speaks to Proactive Investors about the pharmaceutical research company’s business model and value drivers, and provides some context about the sector, which is seeing a lot of headline-grabbing merger and acquisition activity.
"I think there's three things about our company that make us a little bit different from some of our peer group. I think the number one is that we have cash... secondly, the team that we've grown... and lastly, I think, our portfolio... Pharmaxis isn't a company where we've just got one program; an investment in us isn't like putting money on black or red on a roulette table. We understand that early biotech companies [carry] a fair amount of risk and some programs may fall over, but we have a portfolio of drugs on the market, drugs that are already partnered, and drugs that are still in development," says Phillips.
Pharmaxis is in talks for a partnership deal on its LOXL2 anti‐fibrotic program, with hopes of announcing a partner in the second half of this year. Trial results from the Boehringer Ingelheim partnered program, which will potentially demonstrate proof of concept in patients for two indications, are expected out in the first half of next year.