PaxMedica's Successful Trial Paves the Way For First US-Approved Drug For African Sleepiness
Portfolio Pulse from Vandana Singh
PaxMedica Inc (NASDAQ:PXMD) shares are trading higher after the company released positive topline data from PAX-HAT-301 Retrospective Analysis of Suramin Treatment for Stage 1 Trypanosoma Brucei Rhodesiense Human African Trypanosomiasis (S1 TBR HAT). The study showed improved health outcomes with suramin treatment. PaxMedica plans to submit a New Drug Application (NDA) to the FDA in 2024 for using PAX-101 to treat Stage 1 African Sleeping Sickness. If approved, it would be the first drug in the U.S. for treating TBR HAT.
July 24, 2023 | 3:06 pm
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PaxMedica's positive trial results and plans to submit a NDA to the FDA in 2024 for PAX-101 could potentially boost its stock price.
The positive trial results indicate that PaxMedica's suramin treatment is effective, which could increase investor confidence in the company. Additionally, the company's plans to submit a NDA to the FDA in 2024 for PAX-101, if approved, would make it the first drug in the U.S. for treating TBR HAT, potentially leading to increased revenues and a boost in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100