Pharmaust Limited (AU:PAA) has released an update.
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PharmAust Limited, a clinical-stage biotechnology company, has issued over 49 million new shares to institutional investors, employees, and a corporate advisor, with a significant focus on developing therapeutics for neurodegenerative diseases like ALS. The company has recently reported promising results from its Phase 1 study and is gearing up for a Phase 2/3 study, potentially leading to FDA approval for its drug monepantel in 2026. The neurodegenerative disease market, in which PharmAust is a key player, is projected to grow significantly to USD 77.82 billion by 2029.
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