“It is a superior outcome compared to a typical Phase 2 out-licensing deal in which a partner captures the majority of upside. iX Biopharma retains full ownership and control over Wafermine. DoD removes the capital overhang and reduces the risk of Phase 3 execution,” Chew says.
Phillip Securities’ Head of Research, Paul Chew, has re-initiated coverage on Catalist-listed pharmaceutical company, iX Biopharma (SGX:42C
) , with a “buy” call and $1 price target.
In his April 10 report, he sees the recent US$40.95 million Phase 3 clinical trial funding and orders from the US Department of Defense (DoD) as a major endorsement and major external validation of the WaferiX sublingual technology.
