PaxMedica Engages Bourne Partners To Explore Future Monetization Of Potential Priority Review Voucher
Portfolio Pulse from Benzinga Newsdesk
PaxMedica, Inc. (NASDAQ:PXMD) has engaged Bourne Partners to explore potential monetization of a Priority Review Voucher (PRV) prior to filing the NDA for PAX-101 for the treatment of African Sleeping Sickness. PaxMedica anticipates qualifying for the PRV program as their treatment targets a rare, fatal tropical disease. However, PaxMedica has not been granted a PRV, and there is no guarantee that one will be awarded. PaxMedica also reports that the amount outstanding under PaxMedica's convertible note with Lind Global Partners II, LP has decreased from $3.68 million to $2.27 million.
November 02, 2023 | 12:57 pm
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PaxMedica is exploring potential monetization of a Priority Review Voucher and has reduced its outstanding debt, which could positively impact its financial position.
The engagement with Bourne Partners to explore potential monetization of a Priority Review Voucher could bring additional revenue to PaxMedica. Furthermore, the reduction in the outstanding amount under PaxMedica's convertible note with Lind Global Partners II, LP improves the company's financial position, which could be seen as a positive sign by investors.
CONFIDENCE 85
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RELEVANCE 100