With early phase II trial data from Cognition Therapeutics Inc.’s lead candidate, CT-1812, for Alzheimer’s disease expected in mid-2024, the firm is hoping to raise $11.5 million from an underwritten public offering of about 6.6 million shares, priced at $1.75 each.
With a second batch of phase Ib data from the trial testing RGLS-8429 in hand from Regulus Therapeutics Inc., Wall Street is looking forward to results from the third cohort in midyear and weighing prospects with the compound in autosomal dominant polycystic kidney disease. Screening of the fourth cohort will start during the second quarter. Meanwhile, the company has begun to mull a pivotal phase II trial that would launch in the middle of next year, and may help with accelerated approval by the U.S. FDA.
Foreign investment in China’s biopharma sector is beginning to pick up after the hit of severe pandemic restrictions, and as Western governments look to revive trading relationships following a spate of diplomatic rows.
Dimerix Ltd. announced a AU$20 million ($US13.22 million) capital raise following the news that its lead candidate, DMX-200, was successful in a prespecified interim analysis of the efficacy endpoint in its pivotal phase III trial in focal segmental glomerulosclerosis, a rare kidney disease.
In February, the biopharma industry sustained the positive momentum observed in January, with total financings increasing 105.94%, reaching $22.3 billion compared to $10.83 billion the first month of the year. The amount positions February as the second-highest month in BioWorld’s records, trailing only May 2020, which saw $23.98 billion in total financings.
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