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An announcement from Dimerix Limited ( (AU:DXB) ) is now available.
Dimerix Limited announced significant progress in its quarterly activities report, highlighting the advancement of its DMX-200 product candidate in the ACTION3 Phase 3 clinical trial for focal segmental glomerulosclerosis (FSGS). The company received Orphan Drug Designation in Japan and reported a strong cash position of AU$49.2 million. The successful data analysis from the PARASOL collaboration is expected to support potential marketing approval for DMX-200 globally. Despite a net operating cash outflow of AU$18.8 million, Dimerix anticipates reduced cash outflows in future quarters as the trial nears full recruitment, maintaining a focus on licensing opportunities and new R&D pipeline activities.
The most recent analyst rating on (AU:DXB) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Dimerix Limited stock, see the AU:DXB Stock Forecast page.
More about Dimerix Limited
Dimerix Limited is a biopharmaceutical company focused on developing innovative therapies for areas with unmet medical needs, particularly in kidney disease. The company is headquartered in Fitzroy, Victoria, Australia, and is advancing its lead product candidate, DMX-200, through Phase 3 clinical trials.
Average Trading Volume: 1,411,589
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$309.2M
See more data about DXB stock on TipRanks’ Stock Analysis page.