Redx Pharma’s differentiated ROCK inhibitor assets hold much promise in the treatment of a variety of serious and intractable fibrotic conditions. Hence, the start of a Phase I trial with second ROCK programme RXC008 is an important milestone. The preclinical data for RXC008 are extensive and, if replicated in the clinic, suggest that RXC008 could have a unique role in the treatment of fibrostenotic Crohn’s disease, a debilitating condition that requires repeated surgical interventions. Meanwhile, data for lead ROCK asset zelasudil for IPF (idiopathic pulmonary fibrosis), which are a key catalyst for Redx, continue to be expected during H124. Redx also continues to execute on business development opportunities within its pipeline, with a third deal signed with Jazz; further deal(s) could be catalysed once RXC004 data become available in H124. Our updated rNPV valuation is £386m, or 99p per share.
28 Feb 2024
Redx Pharma: Ready to ROCK as RXC008 enters the clinic
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Redx Pharma: Ready to ROCK as RXC008 enters the clinic
- Published:
28 Feb 2024 -
Author:
Franc Gregori | Lala Gregorek | Philippa Gardner -
Pages:
13
Redx Pharma’s differentiated ROCK inhibitor assets hold much promise in the treatment of a variety of serious and intractable fibrotic conditions. Hence, the start of a Phase I trial with second ROCK programme RXC008 is an important milestone. The preclinical data for RXC008 are extensive and, if replicated in the clinic, suggest that RXC008 could have a unique role in the treatment of fibrostenotic Crohn’s disease, a debilitating condition that requires repeated surgical interventions. Meanwhile, data for lead ROCK asset zelasudil for IPF (idiopathic pulmonary fibrosis), which are a key catalyst for Redx, continue to be expected during H124. Redx also continues to execute on business development opportunities within its pipeline, with a third deal signed with Jazz; further deal(s) could be catalysed once RXC004 data become available in H124. Our updated rNPV valuation is £386m, or 99p per share.