InhaleRx Advances Drug Development with Strategic Funding and Expanded Trials

InhaleRx Limited ( (AU:IRX) ) has shared an announcement.

InhaleRx Limited has announced significant progress in its drug development efforts, supported by a $38.5 million funding agreement with Clendon Biotech Capital Pty Ltd. This funding will accelerate the development of IRX-211 and IRX-616a through to Phase 3 readiness, potentially expediting their path to market. The company has expanded the scope of its clinical trials and completed necessary adjustments for trial drug manufacturing, positioning itself to meet FDA requirements and enhance its market positioning.

More about InhaleRx Limited

InhaleRx Limited is an Australian drug development company focused on creating novel inhaled medications. The company is currently developing two drugs: IRX-211 for breakthrough cancer pain and IRX-616a for panic disorder. Their market focus includes advancing these inhaled cannabinoid medications through clinical trials with the goal of obtaining New Drug Approval from the US FDA.

YTD Price Performance: -28.57%

Average Trading Volume: 175,783

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$5.34M

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