NetworkNewsBreaks — PaxMedica Inc. (NASDAQ: PXMD
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Posted On: 12/04/2023 3:53:58 PM
NetworkNewsBreaks — PaxMedica Inc. (NASDAQ: PXMD) Featured in Recent H.C. Wainwright & Co. Research Report with ‘Buy’ Rating, $3 PT
PaxMedica (NASDAQ: PXMD), a biopharmaceutical company focused on advancing treatments for neurological disorders, is spotlighted in a recent H.C. Wainwright & Co. research report. The report “is initiating coverage on PaxMedica, an emerging firm developing novel formulations of suramin for treatment of neurological disorders with intractable symptoms,” which is “attacking autism with a novel approach.” The report noted that PaxMedica was the first company to design and execute a controlled clinical study based on the agency’s inputs, with top-line data based on retrospective analysis of medical records being presented in November 2023 that “showed PAX-101 (intravenous suramin) clinical meaningfulness in S1 TBR HAT, suggesting clinical derisking was achieved.” The report stated that the company is planning to file a New Drug Application (“NDA”) next year that will make PaxMedica eligible to receive a Priority Review Voucher (“PRV”) that could be sold for more than $100 million if approved. “We have assessed PaxMedica using a discounted cash flow -based valuation methodology, which ascribes an 11% discount rate and 2% terminal rate of decline to the company’s future cash flows,” the report states.
“In our view, these parameters appropriately define the risk associated with the company’s PAX-101 program in [autism spectrum disorder] (‘ASD’), while also taking into account the future generic erosion that may occur at the end of the lifespan of PaxMedica’s intellectual property estate. We also utilize a 30% probability of approval for PAX-101 in ASD, which reflects the well-characterized nature of suramin as a compound with a long history of usage in human subjects as well as the proof-of-concept data from earlier-stage studies in patients with autism. Our assumptions derive a $60M total risk-adjusted value for PAX-101. This yields a 12-month price objective of $3 per share, assuming roughly 19.2M fully-diluted shares outstanding as of end-2024. . . . Our rating is Buy with a 12-month price target of $3 per share.”
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PaxMedica (NASDAQ: PXMD), a biopharmaceutical company focused on advancing treatments for neurological disorders, is spotlighted in a recent H.C. Wainwright & Co. research report. The report “is initiating coverage on PaxMedica, an emerging firm developing novel formulations of suramin for treatment of neurological disorders with intractable symptoms,” which is “attacking autism with a novel approach.” The report noted that PaxMedica was the first company to design and execute a controlled clinical study based on the agency’s inputs, with top-line data based on retrospective analysis of medical records being presented in November 2023 that “showed PAX-101 (intravenous suramin) clinical meaningfulness in S1 TBR HAT, suggesting clinical derisking was achieved.” The report stated that the company is planning to file a New Drug Application (“NDA”) next year that will make PaxMedica eligible to receive a Priority Review Voucher (“PRV”) that could be sold for more than $100 million if approved. “We have assessed PaxMedica using a discounted cash flow -based valuation methodology, which ascribes an 11% discount rate and 2% terminal rate of decline to the company’s future cash flows,” the report states.
“In our view, these parameters appropriately define the risk associated with the company’s PAX-101 program in [autism spectrum disorder] (‘ASD’), while also taking into account the future generic erosion that may occur at the end of the lifespan of PaxMedica’s intellectual property estate. We also utilize a 30% probability of approval for PAX-101 in ASD, which reflects the well-characterized nature of suramin as a compound with a long history of usage in human subjects as well as the proof-of-concept data from earlier-stage studies in patients with autism. Our assumptions derive a $60M total risk-adjusted value for PAX-101. This yields a 12-month price objective of $3 per share, assuming roughly 19.2M fully-diluted shares outstanding as of end-2024. . . . Our rating is Buy with a 12-month price target of $3 per share.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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