IRLAB Triggers USD 3 Million Milestone as First Patient Dosed in IRL757 Parkinson’s Apathy Trial

IRLAB Therapeutics AB Class A ( ($SE:IRLAB.A) ) has provided an announcement.

IRLAB Therapeutics has dosed the first patient in its Phase Ib LIFT-PD trial of IRL757, a potential treatment for apathy in Parkinson’s disease, triggering a USD 3 million milestone payment from its development partner, the McQuade Center for Strategic Research and Development, an Otsuka subsidiary. The fully funded study will enroll 75 patients across 16 sites in Germany, Bulgaria, Poland and Spain, building on earlier Phase I data that showed IRL757 was well tolerated and well absorbed in healthy adults.

The progress with IRL757 strengthens IRLAB’s financial position and advances a candidate that could become the first approved therapy for apathy, which affects millions of people with Parkinson’s and Alzheimer’s disease in major global markets. Positive preclinical data indicating improved motivation and a mechanism aimed at restoring disrupted cortical-subcortical nerve signaling underpin the program, supporting IRLAB’s positioning in a high unmet-need segment of neurodegenerative disease treatment.

The most recent analyst rating on ($SE:IRLAB.A) stock is a Hold with a SEK1.50 price target. To see the full list of analyst forecasts on IRLAB Therapeutics AB Class A stock, see the SE:IRLAB.A Stock Forecast page.

More about IRLAB Therapeutics AB Class A

IRLAB Therapeutics AB is a Swedish biopharmaceutical company listed on Nasdaq Stockholm that focuses on discovering and developing new treatments for Parkinson’s disease and other neurodegenerative disorders. Its pipeline includes IRL757, a first-in-class drug candidate targeting apathy, a common and debilitating symptom for which no approved pharmacological treatments currently exist.

Average Trading Volume: 219,584

Technical Sentiment Signal: Sell

Current Market Cap: SEK134.5M

For a thorough assessment of IRLAB.A stock, go to TipRanks’ Stock Analysis page.