Actinogen Medical Limited ( (AU:ACW) ) has provided an update.
Actinogen Medical Limited has reported its interim financial results for the half year ending December 2024, highlighting significant progress in its clinical trials. The XanaMIA phase 2b/3 trial for Alzheimer’s is accelerating, and the XanaCIDD phase 2a trial for major depressive disorder has yielded positive findings, supporting Xanamem’s efficacy. The company received a $9 million R&D tax rebate, securing funding until mid-late 2026. Actinogen is preparing for commercialization and has been granted a unique International Nonproprietary Name for Xanamem, enhancing its industry position. The financial report reflects a net loss but shows increased cash reserves, indicating strong ongoing investment in R&D.
More about Actinogen Medical Limited
Actinogen Medical Limited is a biotechnology company focused on developing innovative treatments for neurological conditions, particularly Alzheimer’s disease and major depressive disorder. The company is advancing its lead product, Xanamem, an inhibitor of the 11β-HSD1 enzyme aimed at controlling brain cortisol levels to provide clinical benefits in these conditions.
YTD Price Performance: 25.00%
Average Trading Volume: 258,775
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $81.65M
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