IRLAB Therapeutics announced that it has completed patient recruitment for its ongoing Phase IIb study investigating mesdopetam in the treatment of patients with Parkinson’s disease levodopa-induced dyskinesias (PD-LIDs). We see the successful patient enrolment for the trial as a positive indicator for the company being on track to deliver top-line readouts from the study around the end of 2022, representing the most important near-term catalyst. Mesdopetam is being developed in collaboration with Ipsen, which will assume responsibility for the drug’s clinical development programme through registration and global commercialisation, should positive Phase IIb data be reported. We maintain our estimates and valuation of IRLAB at SEK6.40bn or SEK123.7 per share.
