Zelira Therapeutics’ share price almost tripled after it announced its diabetic nerve pain drug outperformed multi-billion dollar Big Pharma drug, Lyrica.
Top line results demonstrated that Zelira’s proprietary ZLT-L-007 drug outperformed Lyrica by achieving a significant reduction in NRS pain scores, indicating a decrease in symptom severity.
ZLT-L-007 was found to be safe and well-tolerated, meeting the primary endpoint for safety with no Serious Adverse Events (SAE).
For the latest health news, sign up here for free Stockhead daily newsletters
The most substantial reduction in pain severity happened particularly at the 60-day and 90-day follow-up periods.
The study also met its secondary endpoints, including significant decreases in Visual Analog Scale (VAS) and Short-form McGill scores, among others.
These compelling outcomes have now provided confidence for the company to evaluate the further progression of ZLT-L-007 into formal FDA clinical trials.
“The results align perfectly with our strategy of generating scientifically rigorous and clinically validated data for our patent-protected proprietary cannabinoid-based drugs,” said Zelira CEO, Dr Oludare Odumosu.
Additional insights from the full study will be reported, as they become available, during FY 23-24.
MORE FROM STOCKHEAD: Tech rally boosts ASX ETFs | Micro-X makes bomb disposal breakthrough | Tech baron sold on Jayride
Perhaps as big as Lyrica
Lyrica (pregabalin) is a multi-billion dollar drug developed by Pfizer.
The drug is commonly prescribed to manage chronic pain associated with nerve damage caused by conditions such azs diabetic neuropathy and post-herpetic neuralgia (nerve pain following shingles).
“In certain instances, ZLT-L-007 provided up to four times the observed pain relief when compared to Lyrica,” said Zelira’s chairman, Osagie Imasogie.
Lyrica has historically achieved peak year annual sales of approximately $US5 billion, clearly indicating the market potential for Zelira’s ZLT-L-007.
Visit Stockhead, where ASX small caps are big deals
Neurotech gets extension
In other biotech news today, Neurotech was granted a two-year extension of NTI164 treatment for autism trial participants to start compassionate use.
The Human Research Ethics Committee (HREC) approval means that ASD patients who participated in the Neurotech Phase I/II trial can remain on treatment for an additional two years.
It is expected that 11 ASD patients will transition to the compassionate use (SAS-B) program from Q3 of this year.
This content first appeared on stockhead.com.au
SUBSCRIBE
Get the latest Stockhead news delivered free to your inbox. Click here