Faron Pharmaceuticals Ltd (LON:FARN) is gearing up for the completion of a final phase clinical trial of its lead product later this year.
Faron believes its drug, Traumakine, could revolutionise the intensive care treatment for patients with acute respiratory distress syndrome (ARDS) – a lung condition that currently has a high death rate.
The company said it remains on course for a first ‘read-out’ from the European phase III INTEREST study in the second half.
Interestingly, the Independent Data Monitoring Committee has now made three recommendations to continue the trial without modification. Experts say this bodes well for the final outcome of the clinical assessment.
While the trial continues and the data is compiled Faron is developing a manufacturing plan to build its stocks of the drug.
"We are very excited about Faron's prospects for 2017 and beyond,” said chief executive, Dr Markku Jalkanen.
“We are getting close to read-out of the INTEREST trial, which we believe could revolutionise intensive care practices for ARDS patients.
“We are therefore continuing to prepare the business in anticipation of commercial launch soon after the trial results are received.”
A US phase II trial of Traumakine is set to get underway in the second half, while recruitment for a Japanese phase III trial is expected later this year.
Meanwhile it will also be used to treat patients with a difficult to treat heart condition, with a trial expected to kick off this quarter.
The company’s second drug candidate, Clevegen, developed to enhance the body’s immune response to cancer, continues to make progress.
Faron hopes to file its first clinical trial application with the UK regulatory authorities late this year or early next.
The Finland based, AIM-listed company also updated on its financial position as it said it said it had €11.5mln in cash at the end of last year.