Phytopharm 'lacking no confidence' in pipeline; will seek partner, say analysts
UK-based Phytopharm (LSE: PYM) has reported successful preclinical studies of Cogane (PYM 50028) in Parkinson’s disease levodopa-induced dyskinesia and amyotrophic lateral sclerosis (ALS). Further preclinical studies for Cogane in ALS as well as studies with Myogane (PYM 50018) in glaucoma are also due in the fourth quarter.
According to analysts at Edison Investment Research, the investment case is centered on the CONFIDENT-PD Phase II study of Cogane in early-stage Parkinson’s disease, which should read out in late 2012. Phytopharm intends to seek a licensing deal on the back of positive data. The firm’s cash of £20.4 million ($33.6 million) is sufficient to last to late 2013, they believe.
Positive early work in PD-LID and ALS
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