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InhaleRx Limited ( (AU:IRX) ) has provided an announcement.
InhaleRx Limited has announced significant progress in its drug development efforts, with operational highlights including a $38.5 million funding agreement with Clendon Biotech Capital to cover clinical trial costs for its IRX-211 and IRX-616a drugs through Phase 2 trials. The company received approval to commence a Phase 2 trial for IRX-211 and appointed Ingenu CRO Pty Ltd to oversee the trials. Additionally, InhaleRx has filed an international patent application for the IRX-211 treatment. This strategic funding and operational progress position InhaleRx to advance its inhaled therapies, addressing unmet medical needs and FDA requirements.
More about InhaleRx Limited
InhaleRx Limited is an Australian drug development company focused on developing novel inhaled medicines. It is currently working on two drugs: IRX-211 for breakthrough cancer pain and IRX-616a for panic disorder. The company aims to receive New Drug Approval from the US FDA for these medications.
YTD Price Performance: -37.50%
Average Trading Volume: 149,559
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$5.34M
For a thorough assessment of IRX stock, go to TipRanks’ Stock Analysis page.
