Pharmaust Limited’s Shares Jumped Over 9.3% On ASX After Announcement Of Positive Results From Phase 1 Trial

Pharmaust Limited

Pharmaust Limited (ASX: PAA) is into its clinical-stage. The company is into developing targeted cancer therapeutics for human as well as animals. It is specialised in using its marketed drugs for a different purpose, which lowers the risks and costs of development. The subsidiary of the company, Epichem supports these efforts, which helps in enhancing revenues being a successful contract medicinal chemistry company.

The company today on 14 March 2019 announced that it had received early positive results from its Phase I trial that was announced and commenced on 20 February 2019. The trial in nine canines is evaluating a reformulated monepantel (MPL) tablet for absorption and pharmacokinetic parameters. The serum levels of MPL from a single tablet align with those predicted, to produce suppression of tumour markers and tumour regression. 

The company possess a leading drug candidate called Monepantel. It is currently registered and marketed and used in treatment for parasite infections in food chain animals. It develops monepantel independently and as a safe modulator of the mTOR pathway.  This helps in driving cancers. The company has several ‘methods of use’ patents which includes the anti-cancer pursuits of monepantel as well. Blood concentrations of MPL exceeded than, which was observed in the Phase one clinical trial in humans, after a single dose administration of one tablet to the dogs.

Let us now have a quick look at the financial performance of the company over the last year. The revenue of the company stood at ~$2.87 million in FY18 as compared to $2.85 million in FY17. The loss after tax however increased and stood at $2.52 million in FY18 as compared to $1.34 million in FY17. On the balance sheet front, the total assets of the company stood at $8.35 million in FY18 as compared to $8.19 million approximately in FY17. The net assets, however, were reported at $$7.13 million in FY18 as compared to $6.91 million in FY17.

On the cash flow front, in FY18, the company reported a cash outflow from operating activities of $1.55 million as compared to $1.25 million in FY17. The net cash outflow from investing activities, however, stood at ~0.86 million in FY18 vs ~0.057 million in FY17. The cash flow from financing activities, however, remained positive and stood at $1.70 million in FY18 as compared to $3.02 million in FY17. The company had a period end cash balance of $1.87 million in FY18 vs $2.59 million in FY17.

On the price-performance front, the stock of Pharmaust Limited is currently trading at $0.037, up 9.375% per cent during the day’s trade, with a market capitalisation of $6.41 million (AEST 04:00 PM). The stock has generated a negative YTD return of 9.57% and a negative return of 7.19% and 21.62% over the past six months and one-month period, respectively. It had a 52-week high price of $0.058 and a 52-week low price of $0.030, with an average trading volume of ~409,010.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Top 25 Dividend Stocks To Consider

People prefer a dividend stock in their portfolio as it possesses the feature of compounding. Compounding means that the earning which is generated through these dividend stock will get reinvested and will eventually create earnings from earning. More precisely, the dividend generated from these dividend stock will get reinvested to buy another set of a share of the dividend stock which results in giving a higher dividend.

Click here to download your top 25 dividend stocks report!

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report


Please enter your comment!
Please enter your name here