Pharnext is a French biotechnology company that aims to discover and develop new therapeutic solutions using what it calls the Pleotherapy approach, a combination of low doses of existing drugs to develop treatments by matching the properties of drug combinations with specific diseases. The company focuses on neurodegenerative and metabolic diseases, from research through to clinical development (until the end of Phase II trials), and then licenses the drugs to industrial partners.
Pharnext has two drugs in its research and development (R&D) pipeline: 1) it is planning a final Phase III clinical trial of its investigational therapy PXT3003 for the treatment of Charcot-Marie-Tooth disease type 1A (CMT1A), which is set to begin early next year. This is carried out with guidance from the US Food and Drug Administration (FDA), 2) PXT864 is a therapy at phase II for the treatment of Alzheimer’s disease. For the year-end as of December 31, 2019, Pharnext reported a 9.3% YoY growth in net losses to EUR 23.3 million (around USD 26.1 million) based on total income of EUR 3.6 million (around USD 4 million, down 47.1% YoY).
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