Botanix Pharmaceuticals (BOT: $0.32) has received FDA approval for Sofdra, a prescription medicine for primary axillary hyperhidrosis (PAH), or excessive underarm sweating. It is the first novel chemical entity approved for this indication.

–3 November 2023–

Neuren  Pharmaceuticals' (NEU: $11.29) partner Acadia Pharmaceuticals has reported a strong second quarter of sales of its drug DAYBUE for Rett syndrome after having been launched in the US in April this year.

Over the next 12-24 months a number of companies in the sector may receive acquisition bids. The last company to be acquired was ResApp Health for $180 million by Pfizer in 2022. Three companies viewed as potential targets by Bioshares are discussed below.

Over the next 12-24 months a number of companies in the sector may receive acquisition bids. The last company to be acquired was ResApp Health for $180 million by Pfizer in 2022. Three companies viewed as potential targets by Bioshares are discussed below.

Pharmaxis (PXS: $0.061) CEO Gary Phillips said the company is approaching a point when it is about to realise the benefits from the investment that has been made in its clinical programs, with the results from two clinical trials forthcoming. Phillips said it has taken several years to get to this point.

Immuron's (IMC: $0.078) business was severely impacted by the pandemic, with its lead product, Travelan, sold to prevent traveller's diarrhea. Sales fell from $2.7 million in FY2020 to just $166,000 in FY2021.

Imugene (IMU: $0.15) has in-licensed three core technologies. The first and the one on which the company was founded was HER-Vaxx (2013). This technology stimulates the body to develop antibodies against HER2, which is present on breast and gastric tumours in specific patients (who are HER2 positive).

Imricor (IMR: $0.29) is seeking to introduce a new standard-of-care in cardiac ablation procedures. That involves using MRI rather than x-ray to guide the procedures which arguably provides better real-time, functional information on how best to correct irregular heart function.

Chimeric Therapeutics (CHM: $0.076) is commercialising cell therapy technologies sourced from three US research institutions to treat a range of poorly addressed cancers. Patients with these diseases had a five-year survival expectation of just 5% - 27%.

Anteris Technologies (AVR: $21.50) is commercialising the DurAVR aortic heart valve which is implanted by catheter rather than open chest surgery. It is seeking to launch its product in coming years in a market estimated to be worth US$10 billion in 2028, based on only a 15%-20% penetration base of the current patients, according to CEO Wayne Paterson.

Aroa Biosurgery (ARX: $1.08) describes itself as a high growth tissue regeneration company. That high growth has been achieved in FY2023 (its financial year ends 31 March) with annual sales expected to reach the target NZ$60 - NZ$62 million, up at least 54% on the previous year.