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- Neuren Pharmaceuticals focuses on developing new drug therapies for serious neurological disorders
- Trofinetide and NNZ-2591 are two new drug candidates for Neuren
- The Neuren share price has gained nearly 197% over the last 52 weeks
Neuren Pharmaceuticals (ASX: NEU) is moving forward in the development of new drug therapies to cure multiple serious neurological disorders, which usually begin in early childhood and have no approved medicines. The company’s commercial partner is Acadia Pharmaceuticals, a US-based healthcare company.
A glance at Neuren’s technology pipeline
Neuren’s current product development pipeline consists of two new drug candidates - Trofinetide and NNZ-2591. While Trofinetide – Rett syndrome and Fragile X syndrome program has Orphan Drug, Fast Track and Rare Pediatric Disease designations from the US Food and Drug Administration (FDA), NNZ-2591 – Phelan McDermid syndrome, Angelman syndrome, Pitt Hopkins syndrome and Prader-Willi syndrome has Orphan Drug designation from the FDA for all four syndromes.
Neuren is well on track for driving its growth in drug development. It has a market capitalisation of AU$447.57 million. The company’s share price has gained 196.7% over the last 52 weeks, providing the best price return in the healthcare sector.
Let us have a detailed view of the share price trend and the major triggers behind the rise.
Image source: Thompson Reuters
In the last 52 weeks, the major surge in NEU share price was during the second week of December, as depicted in the image above.
On 7 Dec 2021, Neuren shared an update on its lead compound Trofinetide. Following this, shares of the company marked an uptick of nearly 91% and closed at AU$3.250 on that day.
Acadia Pharmaceuticals, Neuren’s partner for Trofinetide in North America, reported top-line results from the pivotal Phase 3 Lavender™ study. The study, conducted on 187 girls and young women aged 5-20 years with Rett syndrome, assessed the efficacy and safety of Trofinetide in the disease. Trofinetide met crucial secondary endpoint indicating statistically substantial improvement over placebo.
Overall, shares of Neuren gained about 126% during that week, starting at AU$1.700 and closing off at AU$3.850.
Similarly, on 31st Jan 2022, Neuren announced its Q4 2021 results, following which shares of the company soared by nearly 6% on the day and 15% the next day. Major highlights of the quarter were as follows:
Stock information: At the time of writing this article (TUE 24 MAY 1:15 PM AEST), shares of NEU were trading at AU$3.530.
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