AGN, PYC, KZA: An insight into key highlights of healthcare therapeutics from March quarter

3 min read | May 02, 2022 12:30 PM AEST | By Aditi Sarkar

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AGN, PYC, KZA: An insight into key highlights of healthcare therapeutics from March quarter — Image source: © Angellodeco|Megapixl.com

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Highlights

AGN continued preclinical work targeting the potential use of ARG-007 in other kinds of brain injuries

PYC initiated GLP toxicology studies in the RP11 program to support IND submission in 2H 2022

Kazia launched an ATM facility in collaboration with a New York-based bank for responding to US investors’ interest rapidly and cost effectively

The quarterly results season is here and companies have been reporting their operational and financial updates. Some have got excellent results, while some have been back in the queue. However, every business holds a positive outlook and strives to achieve its best.

In this article, we will discuss quarterly updates of three stocks from ASX healthcare, AGN, PYC and KZA. Let us dive into details of these companies.

Related read: ResMed (ASX:RMD) revenue takes strong leap in FY22 third quarter

Argenica Therapeutics Limited (ASX:AGN)

Argenica Therapeutics Limited (ASX:AGN) is developing novel therapeutics to reduce brain tissue death after stroke and improve patient outcomes. The company’s lead candidate, ARG-007, is under preclinical development.

Key highlights of the quarter

Completed final Good Laboratory Practice (GLP) genotoxicity and toxicology studies needed for a Phase I in-human clinical trial of ARG-007
Progressed preclinical work targeting the potential use of ARG-007 in other kinds of brain injuries
Received positive results from a preclinical study evaluating the efficacy of ARG-007 in protecting brain cells in cases of cardiac arrest and certain cardiac surgeries
Ended the quarter with a cash balance of AU$4.37 million

PYC Therapeutics (ASX:PYC)

PYC is a drug development company creating a new generation of RNA therapeutics for genetic diseases. It works by combining two complementary platforms of RNA-based drug design and a proprietary drug delivery technology.

Progress made by the company during the quarter, which puts it on a track to become a clinical-stage, multi-asset platform technology firm are as follows:

Kazia Therapeutics Limited (ASX:KZA)

Kazia Therapeutics develops drugs related to cancer treatment. The company’s lead program is paxalisib, which is being designed for curing glioblastoma (a form of brain cancer). It is also developing EVT801, a small-molecule inhibitor of VEGFR3, which has shown excellent activity against broad types of tumours.

Kazia made substantial progress across both paxalisib and EVT801 programs during the quarter. Let us have a look at key highlights:

The presentation of new preclinical data for paxalisib in a rare childhood brain cancer at the AACR Annual Meeting
Started recruitment for the Phase II study of paxalisib in association with metformin and ketogenesis
Launched an ‘at-the-market’ (ATM) facility in collaboration with Oppenheimer & Co. (an investment bank based in New York) so that it can respond to US investors’ interest rapidly and cost effectively

Also read: LCT, KZA, PAR, MDC: ASX biotech stocks with over 20% one-month returns

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