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Pharmaust Limited ( (AU:NUZ) ) has provided an update.
Neurizon Therapeutics has secured a comprehensive funding package to support its participation in the HEALEY ALS Platform Trial for its lead drug candidate NUZ-001, a pivotal adaptive Phase 2/3 registration study in ALS. The package comprises approximately $7.1 million raised via a discounted share placement to new and existing sophisticated investors, a proposed 2-for-5 non-renounceable entitlement offer to raise up to a further $17.1 million, and a $20 million convertible note facility from New York-based Obsidian Global GP, structured to provide milestone-aligned capital over two years while limiting upfront dilution. Together with existing cash and expected R&D tax rebates, the funding underpins both the randomized and extension phases of the HEALEY trial and extends Neurizon’s capital runway, enabling it to advance NUZ-001 through late-stage clinical development, pursue accelerated regulatory pathways, build broader commercial and partnering opportunities, and explore the drug’s potential as a platform therapy across multiple neurodegenerative indications, which management says fundamentally strengthens the company’s balance sheet and long-term value proposition for shareholders.
The most recent analyst rating on (AU:NUZ) stock is a Buy with a A$0.56 price target. To see the full list of analyst forecasts on Pharmaust Limited stock, see the AU:NUZ Stock Forecast page.
More about Pharmaust Limited
Neurizon Therapeutics Limited is a Melbourne-based, clinical-stage biotechnology company focused on developing innovative treatments for neurodegenerative diseases. Its lead asset, NUZ-001, targets Amyotrophic Lateral Sclerosis (ALS) and is being positioned as a platform molecule with potential applications across a range of conditions, including Huntington’s disease and frontotemporal dementia, with a strategy aimed at accelerated global regulatory approvals and partnering opportunities.
Average Trading Volume: 817,788
Technical Sentiment Signal: Sell
Current Market Cap: A$58.82M
For an in-depth examination of NUZ stock, go to TipRanks’ Overview page.