Why are these three ASX-listed healthcare stocks in the news?

Summary

  • Emyria Limited has partnered with Mind Medicine Australia to start a psychedelic-assisted therapy programme.
  • Race Oncology is all set to raise AU$5.4 million for
  • Nyrada Inc issued an update on its Cholesterol-Lowering Programme's development, announcing two promising drug candidates.

Following some key developments, three Australian healthcare shares, Emyria Limited (ASX: EMD), Race Oncology Limited (ASX: RAC), and Nyrada Inc (ASX: NYR), are trending on a mixed note on the ASX.

A drug development and clinical services company, Emyria Limited, has teamed up with Mind Medicine Australia to introduce a psychedelic-assisted treatment ​for Post-traumatic Stress Disorder(PTSD). Race Oncology, on the other hand, plans to raise AU$5.4 million for Bisantrene. Another pharmaceutical company, Nyrada Inc, has declared potential drug candidates for Cholesterol-Lowering Program.

Following the announcements on 5 May 2021, Emyria Limited shares closed at AU$0.24, down 7.69%, Race Oncology Limited shares closed at AU$3.170, up 3.26% and Nyrada Inc closed at AU$0.330, up 3.13%.

Emyria Limited and Mind Medicine Australia kick off psychedelic-assisted therapy ​for PTSD

Emyria Limited (ASX: EMD) has launched EMDMA-001, a psychedelic-assisted therapy treatment for Post-traumatic Stress Disorder (PTSD), developed in collaboration with Mind Medicine Australia.

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EMDMA-001 will begin with a Phase II, open-label clinical trial of MDMA-assisted psychotherapy at Emyria's fit-for-purpose clinic in Melbourne. The Multidisciplinary Association for Psychedelic Studies (MAPS) developed EMDMA-001, which is based on a large Phase III clinical trial.

Emyria's existing clinical infrastructure and data capture technologies will be used in EMDMA-001 to provide secure patient access while also producing high-quality, real-world evidence to support future progress.

This first initiative is intended to be a critical first step toward ensuring secure, accredited, cost-effective, scalable, and evidence-based psychedelic-assisted therapy services throughout Australia.

In addition to EMDMA-001, Emyria intends to examine other MDMA and psilocybin-assisted therapy programs for the treatment of disorders such as depression and drug abuse, as stated in an ASX release on 19 November 2020.

Emyria’s Managing Director, Dr. Michael Winlo says:

Mental health is currently the most common chronic health condition in Australia, affecting 4.8 million people, or 20.1 % of the population. Veterans' mental health is a major issue, as shown by Prime Minister Scott Morrison's latest announcement of a Royal Commission into Defence and Veteran Suicide.

The stock EMD closed at AU$0.220 on 7 May 2021.

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ALSO READ- Emyria (ASX:EMD) to offer digital health monitoring services in WA

Race Oncology set to raise AU$5.4 million for Bisantrene

Race Oncology Limited (ASX: RAC) has announced that it has obtained binding commitments to raise AU$5.4 million in an oversubscribed equity placement as well as the start of a bonus issue of options to current Race shareholders who are willing.

The company will offer approximately 1.8 million new shares at AU$3.00 each as part of the Placement. The issue price hints at a 2.3% discount to the last traded price.

For every 20 new shares subscribed for and issued under the Placement, participants will get 1 free attaching option.

In line with Race Oncology's three pillar strategy, the proceeds from the placement will be used to finance the production of Bisantrene and its enhanced FTO program.

Use of funds

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The stock RAC closed at AU$3.270 on 7 May 2021.

ALSO READ-  How did ASX healthcare shares MXC and RAC perform in March 2021 quarter?

Nyrada Inc declares potential drug candidates for Cholesterol-Lowering Programme

Pharmaceutical company Nyrada Inc (ASX: NYR) has provided an update on the development of its Cholesterol-Lowering Program on 5 May 2021 and declared two successful drug candidates (NYX-PCSK9i-211 and NYX-PCSK9i-212).

The findings of an ‘in vivo' high cholesterol mouse study have been extended to assess the efficacy of these potential drug candidates, and the results are due in mid-June.

This study aims to see whether co-administering NYX-PCSK9i with a statin drug improves its efficacy.

Nyrada has also chosen an internationally renowned Contract Research Organization (CRO) to monitor the preclinical safety and toxicology studies, which are required before the human clinical trials can begin. These studies will ensure heart, central nervous system, and respiratory system protection besides assessing toxicological effects in two animal species, which is needed before starting human clinical trials. The CRO has agreed on the design and structure of the studies.

The stock NYR closed at AU$0.305 on 7 May 2021.

ALSO READ - Nyrada Received $1M R&D Tax Rebate, Funded to Sustain Operations Through 2021


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