PaxMedica, Inc. (NASDAQ: PXMD) shares continued their ascent during the extended trading session on Tuesday. The stock exhibited a noteworthy increase of 6.45%, reaching $2.31 in the after-hours market, following a substantial 26.90% surge in the regular session, concluding at $2.17. Notably, these gains occurred without any discernible market-moving news, prompting an evaluation of recent developments to elucidate the stock’s upward trajectory.
As a distinguished communications entity specializing in connecting publicly traded companies with the investment community, IBN unveiled the latest installment of The Bell2Bell Podcast. This episode featured an exclusive interview with PaxMedica’s Chief Medical Officer, David Hough.
Within the interview, Dr. Hough disclosed significant milestones resulting from recent discussions with the FDA, particularly emphasizing the outcomes of the PAX-HAT 301 Study and the extensive nonclinical programs. The study provided affirmative evidence for the treatment of African Sleeping Sickness, presenting a prospect for substantial time and resource savings for PaxMedica.
The FDA also acknowledged the company’s comprehensive nonclinical initiatives, encompassing safety pharmacology, ADME, and toxicology studies. Additionally, a waiver for thorough QT/QTc studies was granted to PXMD, affirming the data’s relevance to the patient population. The anticipation of submitting a New Drug Application (NDA) in 2024 underscores PaxMedica’s unwavering dedication to addressing neglected tropical diseases.
In a strategic move, PaxMedica recently enlisted the services of Bourne Partners, a preeminent financial firm specializing in pharmaceuticals, pharma services, and consumer health. This collaboration represents a pivotal step in PXMD’s pursuit of exploring potential monetization avenues for a Priority Review Voucher (PRV) ahead of filing the NDA for PAX-101, designed for treating African Sleeping Sickness.
Partnering with Bourne Partners underscores PaxMedica’s commitment to optimizing its valuable assets, channeling support toward the advancement of groundbreaking healthcare solutions. Leveraging Bourne Partners’ extensive expertise and network in the healthcare sector, PaxMedica seeks to fortify its initiatives in neurologic disorders and accelerate crucial research and development endeavors.
The qualification for the PRV program is anticipated, given that PaxMedica’s treatment targets a rare, fatal tropical disease caused by a parasite currently deemed eligible by the FDA for inclusion in the program.
