Newron Pharmaceuticals - A year ahead of clinical milestones for evenamide
Newron has released its annual report and provided an operational overview for evenamide as a potential schizophrenia therapy. Positive interim data for the Phase II (study 014/015, in treatment-resistant schizophrenia, TRS) was shared in Q123 with similar results demonstrated in the full/top-line six-week data for all enrolled patients (released on 20 March 2023). The Phase III (study 008A, for patients on antipsychotics but not with TRS) is ongoing; results are expected in H223. Newron is preparing another Phase III (study 003 in TRS), which it plans to initiate in 2023. We believe positive results from these trials would represent the most significant near-term catalysts. At end December 2022, Newron had a total cash and liquid asset position of €22.8m, which we estimate will provide a cash runway into 2024. We value Newron at CHF128.7m or CHF7.2/share (previously CHF113.9m or CHF6.4/share).Newron Pharmaceuticals is a clinical stage biopharmaceutical company. Co. is focused on the development of drugs for the treatment of central nervous system disorders and pain. Co.'s pipeline include, Xadago® (safinamide), for the treatment of Parkinson's disease (PD) and PD Levodopa-induced dyskinesia; Sarizotan, for the treatment of Rett syndrome (Orphan drug status); Evenamide (NW-3509), for the treatment of Schizophrenia and Clozapine-treatment-resistant schizophrenia; and Ralfinamide for patients with specific rare pain indications (neuropathic pain).
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