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Living Cell Technologies Ltd. ( (AU:1AI) ) has issued an announcement.
Algorae Pharmaceuticals Ltd reported significant advancements in their R&D pipeline during the December quarter, showcasing promising preclinical results for AI-168, a cardiovascular drug candidate, and the progress of AI-116 in dementia treatment. The company also expanded its AI platform, AlgoraeOS, leading to new oncology drug target discoveries. Financially, Algorae streamlined operations by discontinuing a costly program and ended the quarter with a strong cash position of $2.4 million, reflecting its strategic focus on enhancing research capabilities and maintaining financial health.
More about Living Cell Technologies Ltd.
Algorae Pharmaceuticals Ltd is a biotechnology company focused on developing innovative pharmaceutical products using its proprietary artificial intelligence platform. The company is engaged in creating cardiovascular and oncology drug candidates and enhancing its AI capabilities to discover new drug targets.
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $7.41M
Find detailed analytics on 1AI stock on TipRanks’ Stock Analysis page.