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InhaleRx Limited ( (AU:IRX) ) has issued an update.
InhaleRx Limited has secured an additional $12.6 million in funding from the Linlithgow Family Office to advance the development of its SRX-25 drug, a new oral therapy targeting treatment-resistant depression. This funding will support manufacturing, non-clinical work, and Phase 1/2 trials, positioning the company to move SRX-25, along with IRX-211 and IRX-616a, into Phase III trials. The funding arrangement includes a structured loan facility and options for shares, aligning with the company’s strategic goals to enhance its market position and ensure the value of its medications is reflected in its share price.
More about InhaleRx Limited
InhaleRx Limited operates in the pharmaceutical industry, focusing on the development of innovative drug therapies. The company specializes in creating combination therapies, with a particular emphasis on treatment-resistant depression. Their primary products include oral Esketamine combined with a CYP450 inhibitor, aiming to improve treatment outcomes for patients with major depressive disorders.
Average Trading Volume: 257,424
Technical Sentiment Signal: Sell
Current Market Cap: A$5.92M
For an in-depth examination of IRX stock, go to TipRanks’ Overview page.