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SAN FRANCISCO, CA--(Marketwired - June 29, 2017) - A Canadian company with its lead drug candidate in a Phase 3 trial recently closed an offering that raised CA$10 million for future research, which has one analyst contemplating the potential.
Included in this article is: Resverlogix Corp. (TSX: RVX)
Resverlogix Corp. is developing apabetalone (RVX-208) for treatment of major adverse cardiac events (MACE). The compound is currently in a Phase 3 trial, BETonMACE, treating diabetic patients with cardiovascular disease (CVD). The trial was initiated in 2015. "We believe the trial will take approximately 3 years to complete, targeting topline readout in 2018," John Vandermosten, an analyst with Zacks Small-Cap Research, wrote. "With a potential impact on multiple markers for CVD we are optimistic on a materially significant impact on MACE."
Vandermosten noted that, "The CAD$10 million capital raise should be sufficient to provide the flexibility to negotiate a larger licensing or first right of refusal deal that will support clinical trials and operations until a new drug application can be submitted to the FDA, which we anticipate occurring in 2019."
Continue reading this article:
With Completion of Offer, Analyst Says This Biotech Stock Could Triple
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Please see the end of the article for the complete disclosures: With Completion of Offer, Analyst Says This Biotech Stock Could TripleContact Information: Carrie Beal AmaroAssociate Publisher NEXT ARTICLE
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