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Pharmaust Limited ( (AU:NUZ) ) has provided an update.
Neurizon Therapeutics Limited has achieved significant milestones, including the FDA lifting the clinical hold on NUZ-001, allowing entry into the HEALEY ALS Platform Trial. The company has also secured a global licensing agreement with Elanco Animal Health and initiated GMP manufacturing of NUZ-001. Financially, Neurizon raised $5.2 million through a share placement and received a $1.5 million loan, enhancing its financial position. Additionally, the company was awarded an Advance and Overseas Finding from AusIndustry, enabling a cash rebate on eligible overseas R&D expenditures. These developments position Neurizon to accelerate NUZ-001’s regulatory approval process and enhance its market visibility, particularly in the U.S.
The most recent analyst rating on (AU:NUZ) stock is a Buy with a A$0.56 price target. To see the full list of analyst forecasts on Pharmaust Limited stock, see the AU:NUZ Stock Forecast page.
More about Pharmaust Limited
Neurizon Therapeutics Limited is a clinical-stage biotech company focused on developing treatments for neurodegenerative diseases, including Amyotrophic Lateral Sclerosis (ALS), Alzheimer’s, Huntington’s, and Parkinson’s diseases. The company is dedicated to advancing its lead drug candidate, NUZ-001, for ALS and other neurodegenerative conditions.
Average Trading Volume: 749,107
Technical Sentiment Signal: Sell
Current Market Cap: A$66.82M
For a thorough assessment of NUZ stock, go to TipRanks’ Stock Analysis page.