Dimerix - Interim Data Assessment in Mid-March
Dimerix (DXB: $0.26) is conducting a registration study with its lead compound DMX-200 for the treatment of a particular kidney disease, FSGS, which is has received an orphan disease designation. Two interim data assessments are expected, with the first in mid-March. This will be a significant milestone for the company.
A positive result, according to the company, would be a statistically significant improvement in proteinurea levels which would also be clinically meaningful, with the company to proceed to the second phase of the study.
In October the company signed a licensing deal for DMX-200 with Advanz Pharma for the regions of Europe, Canada, Australia, and New Zealand. This included a $10.8 million upfront payment. If the company is directed to proceed with the study, inferring clinical benefit is being recognised, then additional licensing deals can be expected. The very high level of due diligence conducted by Advanz prior to the deal is worth recognising.
Forecasts of the FSGS disease suggest an annual addressable market of US$2.05 billion in the US alone.
In a Phase II study with DMX-200, 86% of patients achieved a drop in proteinurea levels compared to placebo, with 29% achieving more than a 40% reduction.
Bioshares recommendation: Speculative Buy Class B
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