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An announcement from Patrys Limited ( (AU:PAB) ) is now available.
Patrys Limited announced the results of specification testing of PAT-DX1, deeming the material unsuitable for initiating a Phase 1 clinical trial. Consequently, the company is shifting its focus to PAT-DX3, which shows promise in treating inflammatory diseases due to its DNA-binding properties. Patrys is implementing cost-saving measures while awaiting additional capital to support further development and partnership opportunities. The company received a $1.3 million rebate under the Federal Government’s R&D Tax Incentive Scheme and ended the quarter with $2.2 million in cash and short-term investments.
More about Patrys Limited
Patrys Limited is a therapeutic antibody development company focused on advancing deoxymab technology. The company is exploring the potential of its products, particularly PAT-DX3, in inflammatory diseases and autoimmune conditions, leveraging its ability to inhibit NETosis. Patrys is also seeking partnerships and licensing opportunities to further its offerings in the pharmaceutical industry.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €3.71M
For a thorough assessment of PAB stock, go to TipRanks’ Stock Analysis page.
