Why PharmAust (ASX:PAA) buzzed on the ASX today

Highlights

  • PharmAust Limited updated the market about the testing of treatment for B Cell Lymphoma in pet dogs.
  • Successful results are observed after the competition of phase 2 trial.
  • It is expected that after the completion of phase 3, the MPL will become commercially viable.

Clinical stage company, PharmAust limited (ASX:PAA) shares jumped high by 11% in the early morning trading hours as the Company provides an update about the testing of treatment for B Cell Lymphoma in pet dogs.

Let’s take a closer look at the announcement.

PharmAust on treatment B cell lymphoma in dogs

PAA update the market about the testing of anticancer activity of monepantel (MPL) among dogs.

For two trial programs, 24 dogs have qualified for treatment testing. During the trial programs, MPL was given to the pet dogs as either tablet or gelatin encapsulated liquid. Four dosages of MPL tablets have been administered. In order to minimize the side effect from the dosage of MPL, optimum drug plasma arrange has been calculated by PharmAust.

The drug level of seven dogs was in the optimum range and out of seven, six responded positively and one showed partial response. Some tumours were disappearing completely and minimal or no side effects were observed.

When the optimal drug plasma range fall, the side effects included a reduction in weight.

Of the six dogs with stable conditions, only 5 continued to take MPL treatment and it was observed that the median and mean survival time increased significantly. The data from the pet dog owners indicated that pet dogs are having a high quality of life while taking MPL.

Kim Agnew, Trial Principal Investigator commented on the trial,

Dr Richard Mollard, Chief scientist of PharmAust commented on the test outcomes that,

PharmAust limited is trading at AU$0.099 (4:52 pm AEST) with a market capitalisation of 29.78 million.

Bottom Line

A pharmaceutical company, PharmAust Limited calculated the drug plasma range for MPL for dogs having B cell lymphoma. The second phase of the drug trial highlighted that the life expectancy of dogs increases when MPL is combined with prednisolone. The company shared the opinion that after the completion of phase 3, MPL can become commercially compelling. PAA is planning to add trail sites for phase 3 in the US and New Zealand. 

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