Major inflection point?From biotech bear market to biotech bull market where early-stage biotech assets are once again valued above cash instead of below cash? The merger with AEZS could have had epic timing. The S&P Biotech ETF has about 75% to run to reach its 2021 high.
With the completion of the merger the company's new plan should soon be formally articulated to the market.
CZO had C$9.6 million revenue last year. Its major client has returned as preservative-free, powder oat beta glucan is being evaluated by Symrise and malted avenanthramide by a major potential client in the food sector. PGX could have its first product approved by Health Canada by year-end. The oat beta glucan chewy product is about to be launched and AEZS's growth hormone deficiency test is before potential key data and approval for the key pediatric market.
Licensing of the diagnostic test could result in a material cash infusion to propel the rest of AEZS's opportunity set.
All that has been completed so far is a 10L PGX pilot plant. Declaration that the 5X scale-up to 50L is potentially imminent potentially leading to the first approved PGX product. The 100L facility is expected to be commissioned this quarter and represents the decision point for mass industrialization. The 50L facility was expected to provide materials to partners for evaluation. Previously a 40 million dose immune booster plant was said to have a $100 million net present value.
We haven't seen any preclinical data for the avenanthramide pill and the current Phase I/IIa clinical trial will provide preliminary safety/tolerability and efficacy data in humans potentially providing a proof of principle in humans.
A comprehensive article for PGX-fibrosis has been sent to a leading scientific journal ahead of a potential go/no go clinical trial decision. In October Gilles expected only a short toxicology study would be required before a go/no go decision.
Final data from the Angiogenesis Foundation could be near with previous results called a 'home run'.
NMOSD Defining NMOSD development candidate and regulatory path forward.
ALS and DC-PTH seem feasible and they are looking to identify partners for both projects.