Pharmaxis Ltd is an Australian pharmaceutical research company with expertise developing drugs for inflammatory and fibrotic diseases and focussed on myelofibrosis. The company has a highly productive drug discovery engine, drug candidates in clinical trials and two respiratory products approved in global markets generating ongoing revenue.
Established in 1998 and listed on the Australian Securities Exchange in 2003 (symbol PXS) the Company’s head office, manufacturing and research laboratories are located in Sydney, Australia.
Pharmaxis’ lead drug candidate (PXS-5505) is for the treatment of the bone marrow cancer myelofibrosis, which affects 1 in 500,000 people. In myelofibrosis patients, normal bone marrow tissue is gradually replaced with a fibrous scar-like material, destroying the normal bone marrow environment and preventing the production of adequate numbers of red and white bloods cells and platelets. The US Food and Drug Administration (FDA) has granted PXS-5505 orphan drug designation for the treatment of myelofibrosis and has approved an Investigational New Drug application so that clinical trials in myelofibrosis patients can commence.
PXS‐5505 is also being investigated as a potential treatment for other cancers such as liver and pancreatic cancer.
ASX Code
PXS
Sector
Pharmaceuticals- Biotechnology & Life Sciences
Website
http://www.pharmaxis.com.au/
Pharmaceutical research company Pharmaxis Ltd (ASX: PXS) today announced the United States Food and Drug Administration (FDA) has approved Bronchitol® (mannitol) as add‐on maintenance therapy to improve pulmonary function in cystic fibrosis (CF) patients 18 years of age and older.
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Morgans initiates coverage of commercial stage drug development company Pharmaxis with a Speculative Buy rating and $0.58 target price.
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