iX Biopharma Wins US$41 Million U.S. Contract to Advance Wafermine Pain Therapy

iX Biopharma Ltd. ( (SG:42C) ) has issued an announcement.

iX Biopharma has secured a US$40.95 million development contract from the U.S. Government, represented by the Defense Health Agency and Program Executive Office Operational Medical Systems, to advance its Wafermine sublingual ketamine wafer for acute moderate to severe pain. The funding underscores Wafermine’s perceived strategic value as a non-opioid pain treatment for both commercial use and U.S. military medical needs.

the programme will finance efforts to obtain an Emergency Use Authorization from the FDA, enabling the U.S. Department of Defense to use Wafermine before full regulatory approval, and will support Phase 3 development toward a New Drug Application. The sole-source award, based on the government’s assessment that iX Biopharma is uniquely capable of delivering the product on the required timeline, positions the company for potential future procurement if Wafermine is adopted into standard issue medical sets for the Joint Force.

The most recent analyst rating on (SG:42C) stock is a Hold with a S$0.19 price target. To see the full list of analyst forecasts on iX Biopharma Ltd. stock, see the SG:42C Stock Forecast page.

More about iX Biopharma Ltd.

iX Biopharma Ltd. is a Singapore-incorporated biopharmaceutical company focused on developing innovative therapies, including its patented sublingual ketamine wafer Wafermine for the treatment of acute moderate to severe pain. The company targets both commercial healthcare markets with non-opioid pain solutions and specialized military medical applications where rapid, effective pain relief is required.

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Technical Sentiment Signal: Buy

Current Market Cap: S$211.1M

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