- Actinogen Medical (ACW) places its shares in a trading halt to finalise the details of an upcoming capital raising
- The company’s shares will remain in the halt until November 25 or when more details are released, whichever occurs first
- On November 9, Actinogen announced it had gained US Food and Drug Administration (FDA) approval to proceed with a clinical trial in patients with Fragile X Syndrome
- Actinogen’s phase two trial will see around 50 patients with Fragile X be treated using Xanamem over a 12-week period
- Shares in Actinogen last traded at 16 cents on November 22
Actinogen Medical (ACW) has placed its shares in a trading halt to finalise the details of an upcoming capital raising.
The company’s shares will remain in the halt until November 25 or when more details are released, whichever occurs first.
Actinogen is yet to disclose how much it intends to raise or what the funds will be used for once received.
On November 9, Actinogen announced it had gained US Food and Drug Administration (FDA) approval to proceed with a clinical trial in patients with Fragile X Syndrome.
Fragile X is caused by a change to one of the genes on the X chromosome, resulting in mild to severe intellectual disabilities.
While it affects both males and females, the latter tends to have milder symptoms.
Currently, there are no approved therapies with treatment including medications such as muscle relaxants, sedatives and cognition-enhancing medication.
Actinogen’s phase two trial will see around 50 patients with Fragile X be treated using Xanamem over a 12-week period.
Xanamem works by blocking the excess production of intracellular cortisol — the stress hormone — through the inhibition of the 11ß-HSD1 enzyme in the brain.
Results from the trial are expected in 2023.
Shares in Actinogen last traded at 16 cents on November 22. The company has a $268.3 million market cap.