In an enviable position, with ample working capital
Invex Therapeutics Limited (ASX:IXC) is in an enviable position, with ample working capital to see the company through the completion of phase 3 clinical trials, having achieved statistically significant results in both primary and secondary endpoints in phase 2 clinical trials. Subsequently, Invex raised A$26m in May 2020 on the back of these results and will proceed as a sole entity until the completion of phase 3 clinical trials, thus strengthening their value proposition pending favorable results. The company currently has a A$49m market cap (A$17m Enterprise value), with A$33m cash in the bank, whilst expensing A$400,000 per quarter. This is something not seen often, hence our interest.
What does Invex do?
Invex is a biopharmaceutical company focused on the repurposing of approved drug, Exenatide, for efficacious treatment of neurological conditions derived from, or involving raised intracranial pressure, such as Idiopathic Intracranial Hypertension (IIH), acute stroke, and traumatic brain injury. In essence, uncontrolled production of fluid in the brain (cerebral spinal fluid) leads to excess pressure that manifests into compounding migraines, creating pressure and compressing the optic nerve around the eye, causing deterioration in vision, and in some cases permanent loss of vision. Invex has trademarked repurposed Exenatide as Presendin™.
Read our full briefing here.
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