AUS
NZ
UK
CA
USA
IND
_10_04_2024_16_38_50_427275.jpg)
Highlights:
- The Australian benchmark index S&P/ASX200 ended 9 May 2023 in red, tumbling by 0.17% to 7,264.10 points.
- Neuren Pharmaceuticals Limited (ASX:NEU), in its 1Q report, mentioned that DAYBUETM received FDA’s approval.
- Clinuvel Pharmaceuticals Limited (ASX:CUV) updated that the first three patients detected with AIS went through the treatment with PRENUMBRA® Instant.
The Australian benchmark index S&P/ASX200 ended Tuesday, 9 May 2023, in red, tumbling by 0.17% to 7,264.10 points. At the same time, the sub-sector S&P/ASX200 Healthcare index also closed the day, plummeting by 0.57%. Also, Neuren Pharmaceuticals Limited (ASX:NEU) and Clinuvel Pharmaceuticals Limited (ASX:CUV) closed Tuesday’s trading session, plunging by 0.794% and 1.560%, respectively.
Let’s now find out why the 2 ASX healthcare stocks- NEU and CUV, nosedived today.
Neuren Pharmaceuticals Limited (ASX: NEU)
The biopharma company developing drugs for neurological disorder treatment down by 0.794% to AU$13.740 on Tuesday. The company’s last update came in April 2023, when it released its 1Q 2023 report.
On 10 March this year, DAYBUETM (trofinetide) received FDA’s approval as the first treatment ever approved for Rett syndrome. On 17 April 2023, Acadia notified the commercial launch of DAYBUE in the US, and NEU earned a milestone payment of US$40 million from its sale.
The company will obtain quarterly royalties on net sales, along with milestone payments of up to US$350 million conditional on attaining annual net sales thresholds, plus one-third of the market value of the Rare Pediatric Disease Priority Review Voucher bestowed upon Acadia.
Phase 2 clinical trials of NNZ-2591 are presently going on in children with each of Phelan-McDermid, Pitt Hopkins and Angelman syndromes. The initial top-line result is expected in 4Q 2023 for the Phelan-McDermid syndrome. Investigational New Drug application got clearance from the FDA for a phase-2 trial of NNZ-2591 in Prader Willi Syndrome.
Clinuvel Pharmaceuticals Limited (ASX: CUV)
An international speciality pharmaceutical group focusing on the development of drugs for treating skin disorders closed by decreasing 1.560% to AU$19.560 on Tuesday. The same day, the company updated that the first three patients diagnosed with arterial ischemic stroke have been treated with PRENUMBRA® Instant (afamelanotide), as a component of CUV’s ongoing CUV803 clinical study.
The three patients were admitted to specialist stroke centres with mild to moderate strokes (NIHSS 1-15). They demonstrated functional improvement after PRENUMBRA® dosing, with the drug well tolerated.
The CUV803 will now be expanded to comprise patients who have gone through moderate to severe, along with severe strokes (NIHSS 16-42). This CUV803 study registered the first time that afamelanotide was given to stroke patients at a flexible and escalating dose, who are susceptible to go through recurrent life-threatening vascular accidents.
