Noxopharm set for busy six months ahead with strong news flow expected from drug pipeline
- Noxopharm looks ahead to even more highly productive FY22 with clear therapeutic and commercial strategies
- Noxopharm presses ahead with Veyonda® clinical activity over June quarter
- Noxopharm to expand NOXCOVID program following positive phase 1 results
Quick facts: Noxopharm Ltd
Price: 0.54 AUD
Market Cap: $155.67 m
About the company
Noxopharm Ltd (ASX:NOX) is an Australian clinical-stage drug development company.
The company is focused on new treatments for a broad range of solid tumour cancers and one for septic shock.
Noxopharm is also building a pipeline of drugs based on a unique and proprietary technology platform for other large markets of unmet medical need.
How it is doing
The clinical-stage drug development company focused on the treatment of cancer and cytokine release syndrome (septic shock) is going into the new financial year in a strong cash position, which will enable it to proceed with its exciting Four Pillars Oncology Program.
It is also expecting more developments from its subsidiary, Pharmorage, which deals with the growing collaboration with Hudson Institute of Medical Research, Australia’s pre-eminent research body in inflammatory diseases.
Noxopharm Ltd (ASX:NOX) has discovered Veyonda®'s active ingredient idronoxil has an anti-inflammatory mechanism of action that provides a major opportunity to develop TANK-binding kinase 1 (TBK1) inhibitors for the treatment of autoimmune diseases.
The discovery further reinforces the relevance of Veyonda as a preventive treatment for cytokine storms driven by RNA virus infections, including COVID-19, and makes Veyonda the first TBK1 inhibitor to be tested in the clinic.
The clinical-stage drug development company is positioning Veyonda® (idronoxil) as an anti-inflammatory drug in COVID-19 patients with moderate disease intended to stop progression to severe disease.
Insight: Noxopharm presses ahead with Veyonda® clinical activity over June quarter
Noxopharm Ltd has made study progress across its drug development portfolio during the June quarter, setting the stage for a busy September quarter.
The clinical-stage drug development company worked across its four development programs over FY21’s final quarter, with activity across its clinical oncology, cancer research, septic shock and chronic inflammatory and autoimmune diseases portfolios.
What management says
Noxopharm Ltd (ASX:NOX)'s Graham Kelly tells Proactive they're planning to expand its NOXCOVID clinical program after receiving positive preliminary top-line data from its Phase 1 clinical trial for patients with coronavirus. The company's positioning Veyonda (idronoxil) as an anti-inflammatory drug in COVID-19 patients with moderate disease intended to stop progression to severe disease.
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