Why is PYC Therapeutics (ASX:PYC) trading higher today?

Source: GoYong,Shutterstock

Summary

  • PYC Therapeutics’ investigational drug, VP-001, has restored function of the Retinal Pigment Epithelium.
  • This achievement differentiates PYC’s RNA approach from Adeno-Associated Virus.
  • PYC’s share price is trading 3.4 per cent up at A$0.15 (as at 11:06 AM AEDT).

On 2 March 2020, PYC Therapeutics (ASX: PYC) announced that it's lead investigational drug, VP-001, for the treatment of RP11 has restored the function of the Retinal Pigment Epithelium, the target cells for the therapy.

VP-001 has now demonstrated an ability to restore the integrity of the blood-retina barrier lost in patients with the disease in models derived from patients with RP11. The data provide the first evidence of restoration of the barrier function of the RPE monolayer and add to the previously released efficacy data for VP-001, demonstrating an ability to correct the functional deficits seen in individual RPE cells in patients with RP11.

In addition to the results supporting improved barrier function of the RPE monolayer, correction of the morphology (the ‘structure’ of the cell) has also been seen after treatment with VP-001. This quantifies the visual evidence of the improvement PYC demonstrated after treatment with VP-001.

Read More: PYC Therapeutics Successfully Completed Evaluation of CPP

Management Commentary

Sahm Nasseri, Chief Executive Office of PYC US, said, “Patients with RP11 are desperately waiting for a treatment option. These data shared today represent exciting progress for VP-001 as PYC strives to elucidate the potential of this breakthrough RNA agent as we advance towards the clinic.

Beyond these results, we look forward to sharing continued progress for VP-001 through our critical extensive animal studies in the middle of 2021, intending to submit an Investigational New Drug (IND) application to the USFDA during the first half of 2022.

Stock Performance

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In the early trading session, PYC’s share price is trading 3.4 per cent up at A$0.15 (as at 11:06 AM AEDT). During the last six months, the stock has given a decent up move of around 25 per cent. The one-year return stands at an impressive 150 per cent.

 

 


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