viewPharmaxis Ltd

Pharmaxis making strong progress with significant value inflection points ahead

Gary Phillips, chief executive of Pharmaxis Ltd (ASX:PXS) tells Proactive they're continuing to make good progress with their drug development programmes.

After receiving $42 million in milestone payments from Boehringer Ingelheim, the company expects more results later in 2018 which will impact the risk-adjusted valuation of the deal.

Phillips says the NASH study is due to read out in the September quarter and the diabetic retinopathy study in the December quarter this year.

He adds that both studies will provide the first clinical proof of concept in humans and, if positive, would represent a huge step forward in their progress.

The second key event for Pharmaxis will be the mid‐year read out from the phase 1 studies that are underway on their two lead candidates from the anti fibrotic LOXL2 program.

Quick facts: Pharmaxis Ltd

Price: 0.094 AUD

Market: ASX
Market Cap: $37.3 m

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