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InhaleRx Limited ( (AU:IRX) ) has shared an update.
InhaleRx Limited has updated its quarterly activities and operations report, highlighting the completion of a $38.5 million funding agreement with Clendon Biotech Capital to advance its drug development plans. The company received approval to begin Phase 2 clinical trials for its IRX-211 drug targeting breakthrough cancer pain and has finalized tender processes to appoint Ingenu CRO Pty Ltd as the overseer of its clinical trials. The final Phase 1 clinical study report for IRX-211 has been completed, and a comprehensive international patent application has been filed. The quarter experienced a net cash outflow of $97k, as the company maintains a disciplined approach to operational expenditures.
More about InhaleRx Limited
InhaleRx Limited is an Australian biotechnology company that specializes in developing inhaled drug-device treatments to address unmet medical needs in pain management and mental health sectors. The company focuses on obtaining U.S. FDA approval for its treatments, specifically targeting breakthrough cancer pain and panic disorder, for which it holds various patents.
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.
