This ASX biotech junior has some heavy cancer combating weaponry in its arsenal and is about to unleash several near term catalysts.
This company is at the forefront of cutting edge research that aims to better target drug therapies to improve outcomes for the patient — in terms of effectiveness in killing cancer cells, and reducing treatments’ toxic side-effects.
Trials of its first candidate in treating breast cancer, ovarian cancer and Acute Myeloid Leukaemia (AML), were well tolerated by patients, while effectively controlling or stabilising the disease.
Furthermore, trial of its second drug candidate in solid tumours also delivered promising results. The company is operating in a space which has already attracted the attention of billion dollar companies, including US$3.41 billion-capped (A$4.37B) Loxo Oncology Inc (NASDAQ:LOXO), the US$3.5 billion Array Biopharma which onsold its cancer drug to LOXO and the US$3.79 billion capped Blueprint Medicines Corp (NASDAQ:BPMC).
And one of the key people involved in the early development of the drug that helped LOXO to its mega valuation, is now one of the driving forces behind this company.
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With no less than eight catalysts in the pipeline, all this company needs is one to be a company maker.
Expect healthy news flow for this biotech, with clinical trial and other developments for both PTX drugs providing potential share price catalysts and a culture of keen belief in its product.
PTX will be one to watch.