Neuren Pharmaceuticals (ASX: NEU) traded 10.7 million shares yesterday, with the stock finishing the trading day 8.3% higher at $0.13.
The rise in share price is a plus for investors who have subscribed for the recent share purchase plan, which was priced at A$0.115, providing a paper gain of 13%.
Neuren is developing treatments for chronic and acute neurological conditions, and iis targeting large markets with no therapies currently available, with the potential for abbreviated regulatory pathways and orphan drug designation.
The company is fully-funded through to completion of Phase 2 trials in four different indications, with two trials underway, and the other two trials in preparation.
Results from the trials are expected in the second half of 2014.
Importantly for Neuren, it has already established key strategic relationships with groups including; US Army Medical Research & Materiel Command, International Rett Syndrome Foundation, Fragile X Research Alliance and the Fragile X Drug Validation Initiative.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.