(CercleFinance.com) – The biopharmaceutical company Pharnext is trading on the Paris Stock Exchange this Wednesday after receiving several expressions of interest with a view to signing a possible licensing agreement.
In a press release, Pharnext explains that it has entered ‘the final stretch’ for the conclusion of an agreement which would make it possible to promote its main asset, that is to say its drug candidate in Charcot-Marie-Tooth disease. type 1A.
At the end of the first phase of the partner search process, initiated last spring, several pharmaceutical laboratories have expressed their interest in obtaining commercial rights to PXT3003 in certain geographic areas.
Under the terms of these non-binding offers, the total value of the PXT3003 licensing agreements could amount – depending on the offers – to almost 400 million euros.
Pharnext says it has invited candidates to submit a binding offer by September 29, at which time the company will review the offers received and select one or more potential partners with the aim of signing a definitive agreement by the end of the month of October.
This step comes as Pharnext announced, at the end of August, the end of its pivotal phase III clinical study on PXT3003, preliminary results of which are still expected in the 4th quarter.
The action of the specialist in neurodegenerative diseases, whose market capitalization today reaches 875,000 euros, was expected to rise after soaring by more than 200% in the first exchanges.
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