Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Noxopharm Ltd. ( (AU:NOX) ) has provided an update.
Noxopharm Limited has commenced the second phase of its HERACLES clinical trial for SOF-SKN, a new drug candidate aimed at treating autoimmune diseases like cutaneous lupus erythematosus (CLE). The trial, which will test multiple ascending doses, aims to ensure the drug’s safety over repeated applications, potentially accelerating its development timeline by skipping the lowest dose cohorts. This advancement could position Noxopharm favorably within the growing global CLE market, valued at over US$3.3 billion, and further applications of the Sofra technology could extend to other autoimmune and inflammatory diseases.
More about Noxopharm Ltd.
Noxopharm Limited is a clinical-stage biotech company focusing on developing novel drug candidates for autoimmune diseases. Their primary product, SOF-SKN, is part of the Sofra technology platform, which targets inflammatory and autoimmune diseases. The company is leveraging Australian expertise in lupus research and aims to benefit from federal R&D tax incentives by conducting trials locally.
Average Trading Volume: 139,535
Technical Sentiment Signal: Buy
Current Market Cap: A$29.22M
See more insights into NOX stock on TipRanks’ Stock Analysis page.