Why is PaxMedica (PXMD) stock surging today?

April 12, 2024 08:18 AM PDT | By Invezz

Why is PaxMedica (PXMD) stock surging today? — Image source: Invezz

PaxMedica FDA nod for PAX-101 in offing?

Investors are reacting positively to this development, as it marks a crucial milestone in PaxMedica’s journey towards seeking FDA approval for PAX-101.

This drug, if approved, would be the first and only form of suramin available for the treatment of Stage 1 HAT, caused by the fatal tropical disease Trypanosoma brucei rhodesiense.

The completion of these batches paves the way for PaxMedica to file a New Drug Application (NDA) in the fourth quarter of 2024, further bolstering investor confidence in the company’s prospects.

Moreover, PaxMedica aims to explore the potential of PAX-101 in clinical testing for addressing the core symptoms of Autism Spectrum Disorder (ASD), expanding the drug’s potential market and therapeutic applications.

What did PaxMedica CEO say?

Howard Weisman, PaxMedica’s chairman and CEO, emphasized the company’s long-term vision, highlighting the intention to investigate PAX-101 as a treatment for individuals with ASD. With the major manufacturing milestone achieved, PaxMedica is poised to advance its clinical investigation into the efficacy of PAX-101 for ASD.

The post Why is PaxMedica (PXMD) stock surging today? appeared first on Invezz

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