Research Note - Pharmaxis

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The Advisors at Emerald Financial recently released a report on Pharmaxis (ASX: PXS), here is a brief excerpt:

Pharmaxis is in a rare microcap air for a pharmaceutical research company that has a commercialised product at market with sales nearing profitability that can fund transformational cancer research.

Addressing a substantial market opportunity through targeting of myelofibrosis where current treatment standards are limited, yet still sell upwards of USD $1 billion per year, Pharmaxis’ market cap is not fully reflective of the progress they have made in their research compared to international peers. Recruiting of patients for the FDA-approved Phase 2 trial of their drug PXS-5505 (which has the potential to modify the disease and extend life expectancy rather than just treat symptoms like current therapies) has commenced.

Data from this human trial will be presented at the end of CY22. Key to the development of PXS-5505 is the strong cash position of Pharmaxis. The Company reported $16.1m in the bank as of 31 March 2021 while trading with a market cap of just $34 million.

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*PXS has engaged Principal IR, which is a related entity to Emerald Financial, on retainer to assist with Investor Communications.