Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
InhaleRx Limited ( (AU:IRX) ) has provided an announcement.
InhaleRx Limited has completed its first drawdown of $247,500 from a $38.5 million funding facility with Clendon Biotech Capital, marking a significant step in its strategic partnership. This funding will support the commencement of clinical trials for IRX-211, a non-opioid treatment for Breakthrough Cancer Pain, and IRX-616a for Panic Disorder, aligning with the company’s goal to become a leader in inhaled therapies for pain and mental health. The partnership with Clendon is seen as crucial for delivering value to shareholders and advancing the company’s clinical development program.
More about InhaleRx Limited
InhaleRx Limited is an Australian clinical stage biotechnology company focused on developing rapid onset, inhaled therapies for unmet medical needs in pain management and mental health sectors. The company aims to achieve U.S. FDA approval through efficient regulatory pathways and is investigating treatments for Breakthrough Cancer Pain and Panic Disorder.
YTD Price Performance: -37.50%
Average Trading Volume: 184,059
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$5.34M
For detailed information about IRX stock, go to TipRanks’ Stock Analysis page.