PaxMedica shares progress on ASD treatment, including FDA meeting and funding

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PaxMedica shares progress on ASD treatment, including FDA meeting and funding
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NEW YORK - PaxMedica Inc. (NASDAQ:PXMD), a biopharmaceutical company specializing in the development of anti-purinergic therapies (APT) for neurological disorders, has shared an update on its corporate milestones and ongoing research initiatives. In a recent fireside chat video, CEO Howard Weisman discussed several key developments, including regulatory progress for the company's lead drug candidate, PAX-101, aimed at treating Autism Spectrum Disorder (ASD).

Weisman highlighted the successful completion of a Type-B meeting with the U.S. Food and Drug Administration (FDA) on October 25, which focused on the regulatory pathway for HAT-PAX-101, an intravenous suramin formulation. This meeting marks a significant step towards advancing PAX-101 through the regulatory process.

Further bolstering its financial and research capabilities, PaxMedica recently completed a $7 million public offering. Additionally, the company has expanded its portfolio by acquiring suramin research assets from another entity. These strategic moves are part of PaxMedica's broader business strategy to establish production milestones and form strategic partnerships.

The CEO also provided updates on the current phase 3 trial status of HAT-PAX-101 and shared plans for future trials targeting ASD treatment advances. PaxMedica is not only focused on PAX-101 but is also actively broadening its research to cover related conditions.

PaxMedica's approach centers on APT for neurological disorders like ASD, with PAX-101 as their cornerstone therapeutic agent. The company's aspirations include future New Drug Application (NDA) submissions for their leading project PAX-101, as they continue to explore new avenues to address the needs of individuals with ASD and related disorders.

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