Pharmaxis Ltd (ASX:PXS)

Gary Phillips
Market Cap (AUD): 46.66M
Sector: Health Care
Last Trade (AUD): 0.084 +-0 (+-1.18%)
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1. About

Pharmaxis Ltd (ASX:PXS) is a clinical-stage drug development company developing drugs for inflammatory and fibrotic diseases, with a focus on myelofibrosis. 

Pharmaxis has a highly productive drug discovery engine built on its expertise in the chemistry of amine oxidase inhibitors, with drug candidates in clinical trials and has also developed two respiratory products which are approved and supplied in global markets, generating ongoing revenue.  

Pharmaxis is developing its drug PXS5505 for the bone marrow cancer myelofibrosis which causes a build-up of scar tissue that leads to loss of production of red and white blood cells and platelets. The US Food and Drug Administration (FDA) has granted Orphan Drug Designation to PXS5055 for the treatment of myelofibrosis and permission under an Investigational Drug Application (IND) to progress a phase 1c/2 clinical trial that began recruitment in Q1 2021. PXS5505 is also being investigated as a potential treatment for other cancers such as pancreatic cancer. 

The FDA has granted an IND for a phase 1c/2a clinical trial in liver cancer. Other drug candidates being developed from Pharmaxis amine oxidase chemistry platform are targeting fibrotic diseases such as kidney fibrosis, NASH, pulmonary fibrosis and cardiac fibrosis; and inflammatory diseases such as Duchenne Muscular Dystrophy. 

PXS6302 is being studied as a first in class topical drug that inhibits the enzymes involved in formation and maintenance of scars Pharmaxis has developed two products from its proprietary spray drying technology that are manufactured and exported from its Sydney facility; Bronchitol for cystic fibrosis, which is approved and marketed in the United States, Europe, Russia and Australia; and Aridol for the assessment of asthma, which is approved and marketed in the United States, Europe, Australia and Asia. 

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7. Team

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9. Risk