{"id":6441,"date":"2024-02-27T23:42:57","date_gmt":"2024-02-27T23:42:57","guid":{"rendered":"https:\/\/economicherald.net\/?p=6441"},"modified":"2024-02-27T23:42:57","modified_gmt":"2024-02-27T23:42:57","slug":"asx-health-stocks-neurens-sales-come-in-at-top-of-guidance-range-crushing-short-sellers-claims","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6441","title":{"rendered":"ASX Health Stocks: Neuren\u2019s sales come in at top of guidance range, crushing short seller\u2019s claims"},"content":{"rendered":"<p>\u00a0<\/p>\n<p><strong>Neuren\u2019s Daybue sales meet target<\/strong><br \/>\n<strong>Proteomics granted patent in Europe<\/strong><br \/>\n<strong>Nyrada\u2019s brain injury drug shows efficacy in animal testing<\/strong><\/p>\n<p>\u00a0<\/p>\n<h2>Neuren\u2019s Daybue sales meet target, crushing short seller\u2019s claims<\/h2>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/neuren-pharmaceuticals-neu\/\">Neuren Pharma (ASX:NEU)<\/a><\/strong> says Q4 2023 sales of<strong> Daybue<\/strong>, the first and only treatment approved by the US FDA to treat Rett syndrome, came in at US$87.1 million.<\/p>\n<p>This result is in line with the top end of its previous guidance of between\u00a0US$80 million to $87.5 million.<\/p>\n<p>This was also the second full quarter of sales since the drug\u2019s US launch in April 2023. Net sales for 2023 since April were US$177.2 million.<\/p>\n<p>For full-year of 2024, Neuren has now guided the market to Daybue net sales of between<strong> US$370 million and US$420 million.<\/strong><\/p>\n<p>Based upon these sales, anticipated royalties to Neuren are:<\/p>\n<p><strong>1\/ $12.8 million for Q4, up from $10.4 million for Q3.<\/strong><\/p>\n<p><strong>2\/ $26.8 million for the full year 2023, and<\/strong><\/p>\n<p><strong>3\/ Between $61 million and $70 million for the full year 2024 (assuming Acadia guidance is met and exchange rate of 0.65).<\/strong><\/p>\n<p>Daybue (or trofinetide) is approved by the FDA for the treatment of Rett syndrome in adult and pediatric patients two years of age and older.<\/p>\n<p>Neuren has granted an exclusive worldwide licence to <strong>Acadia Pharmaceuticals<\/strong> for the development and commercialisation of the drug.<\/p>\n<p>In mid February, Neuren\u2019s shares plunged after a scathing report from NYC-based short seller,\u00a0<strong>Culper Research.<\/strong><\/p>\n<p>Culper alleged that Daybue had been a \u201ctotal flop\u201d since launch, and has a low patient retention rate.<\/p>\n<p>\u201cThe sell-side calls for over $US800 million in peak Daybue revenues, but our research suggests that DAYBUE new patient starts already topped this past summer, peak revenues will be a mere fraction of sell-side estimates,\u201d said Culper.<\/p>\n<p>Neuren released a statement to the ASX on the day to dismiss Culper\u2019s claims, reconfirming the guidance given previously by Acadia.<\/p>\n<p>Neuren also said the retention rate for patients using Daybue is quite high, contrary to the short seller\u2019s claims.<\/p>\n<p>\u201cAcadia updated the data on persistence of DAYBUE treatment, with 76% remaining on therapy after 6 months based on confirmed discontinuations, or 68% based on confirmed discontinuations and patients who were 60 days past their scheduled refill,\u201d said Neuren\u2019s statement.<\/p>\n<p>\u00a0<\/p>\n<h2>PIQ gets European patent<\/h2>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/proteomics-international-laboratories-piq\/\">Proteomics International (ASX:PIQ)<\/a><\/strong> has been granted a <strong>European patent<\/strong> for its PIQ\u2019s <strong>OxiDx diagnostic test technology<\/strong>.<\/p>\n<p>OxiDx offers a comprehensive solution for monitoring levels of oxidative stress using a simple fingerprick blood test.<\/p>\n<p>The OxiDx test can measure levels of muscle damage using a simple fingerprick blood sample to detect protein biomarkers in the blood.<\/p>\n<p>In professional sports, muscle injuries are the most frequent cause of incapacity, accounting for up to 55% of all injuries. In 2019, $1.4 billion was spent on treating potentially avoidable sports injuries in Australia alone.<\/p>\n<p>PIQ says the European patent is a significant milestone for commercialisation of this innovative technology in the key markets of Europe.<\/p>\n<p>\u201cIt is exciting to see the uniqueness of the OxiDx technology being recognised in leading markets, and we look forward to the technology rolling out,\u201d said <em>PIQ\u2019s managing director, Dr Richard Lipscombe.<\/em><\/p>\n<p>\u00a0<\/p>\n<h2>Nyrada\u2019s brain injury drug shows efficacy<\/h2>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/nyrada-nyr\/\">Nyrada\u2019s (ASX:NYR)<\/a><\/strong> lead <em>Brain Injury Program<\/em> drug candidate,<strong> NYR-BI03<\/strong>, has demonstrated strong efficacy in reducing injury in a preclinical study in animals.<\/p>\n<p>The study showed a significant neuroprotective signal, providing strong evidence of efficacy for the drug.<\/p>\n<p>Conducted in collaboration with UNSW Sydney, the study involved 16 test animals, which were treated with either NYR-BI03 or vehicle, 30 minutes following induced brain injury, with treatment conducted for 72 hours via continuous intravenous infusion.<\/p>\n<p>The MRI brain imaging results showed that a statistically significant neuroprotection was achieved when animals received NYR-BI03 treatment.<\/p>\n<p>On average, NYR-BI03 therapy rescued 42% of the brain injury in the penumbra region seen in animals receiving vehicle.<\/p>\n<p>Nyrada will now move on to Phase I clinical trial in humans, which is scheduled for the second half of the 2024 calendar year.<\/p>\n<p>\u00a0<\/p>\n<h2>Share prices today:<\/h2>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/asx-health-stocks-neurens-sales-come-in-at-top-of-guidance-range-crushing-short-sellers-claims\/\">ASX Health Stocks: Neuren\u2019s sales come in at top of guidance range, crushing short seller\u2019s claims<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>\u00a0 Neuren\u2019s Daybue sales meet target Proteomics granted patent in Europe Nyrada\u2019s brain injury drug shows efficacy in animal testing \u00a0 Neuren\u2019s Daybue sales meet <a href=\"https:\/\/economicherald.net\/?p=6441\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6442,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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