Pharmaxis (ASX:PXS) has witnessed two of its substantial shareholders increase their stakes in the company recently.
Yesterday, National Nominees Ltd ACF Australian Ethical Investment Limited, increased its holding to 10.16% from 8.91%.
More recently, today, BVF Partners LP increased its stake to 18.94% from 12.99% through a number of on-market purchases.
Pharmaxis recently completed the treatment phase in its international clinical trial evaluating Bronchitol® for treatment of cystic fibrosis, a lung disease.
The Phase 3 trial recruited 423 patients across 126 sites in 21 countries in North and South America, Western and Eastern Europe.
The topline results of the trial are expected to be reported in the second quarter of this year.