Trading in Pharmaxis’ (ASX: PXS) shares jumped yesterday with close to four times the recent daily volume being traded in one day.
In total 1.5 million shares changed hands, with the stock finishing 9.5% firmer.
Recently the company's Bronchitol non‐antibiotic therapy was accepted for use by the National Health Service in Scotland for the treatment of adult cystic fibrosis patients.
Cystic fibrosis is one of the most common life‐threatening inherited diseases, with over 800 people affected in Scotland, including more than 450 adults.
Bronchitol is a proprietary formulation of mannitol administered as a dry powder for inhalation, is accepted for use as an add‐on to best standard of care, in adults who are not currently using dornase alfa due to lack of response, intolerance or ineligibility and who have a rapidly declining lung function and in whom other osmotic agents are considered unsuitable.
It is the first non‐antibiotic therapy to be accepted by the SMC for the treatment of cystic fibrosis and also means there is consistency throughout the UK in access to Bronchitol.
Phase 3 clinical trials have demonstrated that Bronchitol is an effective treatment with an acceptable safety profile.
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