Daily Brief Health Care: OUE Ltd, Abbisko Cayman, Lantern Pharma , Newron Pharmaceuticals, Scilex Holding , Soligenix , Syra Health and more

• Abbisko’s share price has fallen since its IPO.Although Abbisko has been buying back shares and LAV has begun to increase its holdings, none of this would brighten the Company’s prospects.
• FGFR and CSF-1R are not very likely to generate blockbuster products.Even with the cooperation of MNCs, peak sales of Abbisko’s products could still be low due to “flaws” on targets.
• There would be very limited imagination of Abbisko’s future valuation expansion. This may largely explain why stock price continues to decline. Investors’re advised to make rational judgments about the Company.

• Lantern Pharma uses AI & data to identify drug responders, uncover mechanism of action & rescue failed drugs.
• It is developing LP-300 for non- & never smoker NSCLC in the Harmonic trial.
• Secondary candidates include LP-100 for mCRPC and LP-184 and LP-284 which are in clinical development for multiple biomarker-defined tumors and hematological cancers, respectively.

Newron Pharmaceuticals has released additional data from its Phase II/III trial (study 008A), providing further evidence to support evenamide’s potential in schizophrenia. After four weeks of treatment, the mean score on the Clinical Global Impression of Change (CGI-C) scale, a key secondary efficacy measure, was 3.3 versus 3.5 for placebo, with the lower score translating to more favourable outcomes. Also, 31.3% of patients rated ‘much improved’ versus 17.3% on placebo. The update indicated that all the major efficacy measures increased over time, similar to the trend seen in the Phase II 014/015 study, albeit in a larger, randomised, placebo-controlled setting. The results highlight the drug’s potential as an effective long-term treatment in a segment with limited treatment options. As previously discussed, a potentially pivotal Phase III study in treatment-resistant schizophrenia (TRS) (study 017) is in the works, and expected to commence within 2024.

• SCLX is filling a much-needed area of the health care sector, that of developing non-opioid pain relief products.
• The company already has commercialized products that are proven to improve patients’ lives.
• The company reported 1Q2024 results that were a little shy of estimates, but growth continues, and the product line should accelerate growth in the coming years.

• On May 10, 2024, Soligenix, Inc. (SNGX) announced financial results for the first quarter of 2024 and provided a business update.
• The company recently completed a public offering for gross proceeds of approximately $4.75 million.
• This capital infusion is important as the company prepares to initiate a second Phase 3 trial of HyBryte (synthetic hypericin) in the treatment of cutaneous T cell lymphoma (CTCL).

• The company attributed the strong topline to investments in technology and personnel made in recent quarters to support expected growth.
• The Caduceus sub-contract is not included in guidance and so therefore could provide upside, depending on when it comes on stream.
• Moreover, SYRA is optimistic about potential new federal business.