The company, today on 10th April 2019, has updated regarding an expanded clinical development program for Xanamem post the conclusion of an extensive scientific, clinical and commercial review of numerous additional potential clinical indications for the drug. This review follows on from the completion of the XanADu Phase II study, evaluating Xanamem in Alzheimer’s disease and the significant interest expressed from various medical specialists in trialling Xanamem as a potential therapy for a range of other medical conditions associated with raised cortisol.
The review, with input from expert advisors, has recognized cognitive impairment in mood disorders and schizophrenia as the next development opportunity for Xanamem. Mood disorders encompass a spectrum of interrelated conditions covering depression and bipolar disorder, and along with schizophrenia, often present with cognitive impairment as a debilitating feature of these conditions. While mood disorders and schizophrenia may be treated and managed with currently available therapies, there are very few options for addressing the cognitive impairment associated with these conditions. Furthermore, cognitive impairment often persists long term, limiting the capacity for patients to lead normal lives. Consequently, cognitive impairment is a significant burden for the majority of patients affected by these chronic diseases. Cognitive impairment in mood disorders and schizophrenia represents a major unmet medical need and a significant development opportunity for Xanamem.
The medical researches conducted have repeatedly demonstrated the apparent association between raised cortisol and cognitive impairment and has substantiated that elevated cortisol is a well-described feature of mood disorders and schizophrenia. Moreover, patients who present for the first time to a practitioner with complaints of mood disorders or schizophrenia are at higher risk of subsequently developing Alzheimer’s disease. Xanamem has been specifically, and uniquely, designed to inhibit the production of excess cortisol in the brain, and thus the cognitive impairment associated with mood disorders, and schizophrenia presents a promising additional development opportunity for Xanamem.
Cognitive impairment in mood disorders and schizophrenia represents a significant novice market opportunity for Actinogen. In the USA, there are collectively, approximately 24 million patients with mood disorders, including depression and bipolar disorder, and schizophrenia. There are limited to no options for the treatment of cognitive impairment in these patients, which account for between 40 – 95% of all patients, depending on the condition. Targeting raised cortisol with Xanamem represents a differentiated, promising approach to treating cognitive impairment in patients with these conditions.
After selecting the cognitive impairment in mood disorders and schizophrenia for the further development of Xanamem, a specialist Advisory Board will now be established to help the Company in designing the most appropriate clinical development plan for Xanamem.
On the stock-performance front, the stock has posted the YTD return of 17.78%. The company also has posted returns of 6% over the past six months. While writing, i.e., on the 10th April 2019 AEST 1:36 PM, the stock of the company is trading at a price of A $0.053, performing flat during the day’s trade with a market capitalisation of ~A$ 59.25 Mn. The stock opened the trading day at A$ 0.054, which was also its intraday high, and touched the intraday low of A$ 0.053 with an average daily volume of ~ 1,481,825. It had a 52-week high price of A$ 0.066 and a 52 weeks low price of A$ 0.042, with an average volume of, 1,524,214 approximately.