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Tetratherix (ASX:TTX) is pivoting into one interesting class of biotech product well outside its existing focus on skin healing product TetraDerm for use following surgery – it wants to bring nasal GLP-1 drugs to market.
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If that sounds familiar, yes, we’re talking about the class of drugs that Ozempic made famous – next-gen weight loss medication that doesn’t involve anything that boosts your heart rate. And Tetratherix wants to make it a nasal delivery system. In other words, Ozempic for the nose.
In a stab at going for synthesis, the company put to the market that the GLP-1 nasal delivery system will use Tetratherix’s existing “Tetramatrix platform polymer,” but at the end of the day, it’s a skin healing company going into nasal weight loss drugs.
That can’t be denied. But it wasn’t something the Australian market balked at. In fact, investors were obviously bullish. As of 11am SYD, Tetratherix is up +18% to $4.91; close to record levels at $5.30/sh in October last year when the materials sector (and anything else that had hype) went gangbusters.
Tetratherix was at one point the most successful IPO of last year; it listed in June 2025 at $3, hit $5.20/sh in July, and climbed above that again in October.
(Between those peaks was a decent amount of churn; between December and January, there was something of a valley of despair.)
So, now where to from here for Tetratherix? That’s hard to tell, but we can expect the Aussie company to probably do more work here, further explaining to its many investors the larger story behind this pivot.
Right now, that’s only known by those in the knows.
TTX last traded at $4.91/sh.
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