Poolbeg Pharma PLC (AIM:POLB, OTCQB:POLBF) has said it is expecting a busy end to the year and start to 2023 after strong progress was made in moving its assets along the value chain in the first half of 2022.
Of keen interest will be the results from POLB 001, a treatment for severe flu. A human challenge study got underway in July with results expected by the end of this year.
This could be a ‘value inflexion point’ which, if the data are favourable, would see Poolbeg look for a licensing partner to take on the development of the asset.
In those circumstances, the company might expect to receive upfront and downstream milestone payments.
It also has two artificial intelligence-led programmes being used to analyse human challenge data to identify new drugs for respiratory syncytial virus (RSV) and flu.
Data from the former is expected by the end of 2022, while the read-out from the latter is due in the first quarter of 2023.
Investment in its research and development effort added to administrative expenses meant the group posted a loss of £1.6mln for the period ended June 30, 2022. As of that date, Poolbeg was sitting on cash or equivalents of £18.9mln.
Poolbeg chief executive Jeremy Skillington said: "We have strong financial resources available to progress our products and platforms and also to capitalise on new opportunities as we identify them which, in addition to our upcoming value inflexion points, gives me confidence that we can generate strong returns for shareholders."