Nanexa optimises business ops to extend cash to mid- '25e
Nanexa today has announced that it has decided to focus its business on three key areas with the aim that current cash and expected revenues from evaluation agreements will last until mid- '25. Nanexa has decided to focus on projects with lower risk and higher revenue potential in the short/medium term. The three focus areas that will be prioritised are 1) NEX-22, Nanexa's one-month depot for GLP-1 receptor antagonist (GLP-1RA) liraglutide for diabetes. Nanexa today also announced that the clinical trial application (CTA) for the Ph 1 study in patients with type 2 diabetes has been received and validated by the EMA. As previously communicated, the study is expected to start in Q1'24e (readout in Q4'24e). Later, NEX-22 will also be developed in obesity. 2) Novo Nordisk partnership. 3) Other prioritised partner projects, with Nanexa mentioning in previous reports that it has obtained interesting results in evaluations with world-leading pharmaceutical companies. In parallel, Nanexa will implement significant cost savings.
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