ASX Health Stocks: Neuren up 17pc on DAYBUE sales, Argenica +40pc on Alzheimer’s data

Neuren’s blockbuster drug DAYBUE generates big sales in Q3
Argenica jumps 40pc after releasing preclinical results from Alzheimer’s trial
Integral Diagnostics crashes 30pc after conceding more inflationary pressures ahead

Neuren’s DAYBUE almost tripled sales in Q3

Market darling Neuren Pharma (ASX:NEU) surged 17% this morning after reporting that its Rett Syndrome drug, DAYBUE, generated net sales in Q3 of US$66.9 million, up from US$23.2 million in Q2.

The company also guided the market for net sales of DAYBUE in Q4 of between US$80 million and US$87.5 million.

Neuren reported that 800 patients used DAYBUE as at 30 September, and this surge in initial demand has exceeded pre-launch expectations.

Around 81% of patients remain on DAYBUE treatment at 4 months, while 80% of lives are now covered by formal reimbursement plans.

Neuren CEO Jon Pilcher said the launch of DAYBUE has been exceptional, with all metrics exceeding expectations.

“We are delighted to see the positive impact [of DAYBUE] in the Rett community.

“The first full quarter of sales has achieved an annual run-rate of more than US$250 million. For Neuren, in addition to very significant royalty revenues, this brings into focus the potential sales milestone payments,” he said.

Argenica jumps 40pc on Alzheimer’s data

Argenica Therapeutics (ASX:AGN) jumped almost 40% this morning after releasing pre-clinical data from its ARG-007 trial on Alzheimer’s disease.

Data from two separate studies showed that ARG-007 significantly inhibits the cellular uptake and aggregation of tau protein in two different in vitro Alzheimer’s disease models.

Results confirmed that ARG-007 has the capacity to significantly reduce the uptake of abnormal tau into brain cells, with a 68% and 49% reduction, thereby potentially limiting the spread of abnormal tau between brain cell.

The spread of tau protein inside brain cells is thought to be a significant cause of Alzheimer’s disease, and an abnormal tau level is a key hallmark of Alzheimer’s disease progression.

“This provides further confirmation that ARG-007 can act on multiple targets and in multiple ways, making it an ideal drug candidate for neurodegenerative conditions such as Alzheimer’s disease,” said Argenica’s CEO, Dr Liz Dallimore.

IDX acknowledges more cost pain ahead

Meanwhile, Integral Diagnostics (ASX:IDX) crashed by 30% this morning after conceding that clinical staff shortages, particularly in regional areas, and cost inflation, have continued into FY24.

The company said it’s responding to these pressures by accelerating productivity and efficiency initiatives.

Its Australian Q1 revenue growth however was 8.4% higher on pcp, and in New Zealand, IDX achieved a 4.1% NZD increase in revenue vs pcp.