Image of a baby's brain
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Argenica Therapeutics Ltd (ASX:AGN) has seen its share price rise nearly 5% on news it has received an Orphan Drug Designation (ODD) and Rare Pediatric Disease Designation (RPDD) for drug candidate ARG-006 from the US Food and Drug Administration (FDA).

The drug candidate treats hypoxic ischaemic encephalopathy (HIE), a condition in which a baby’s brain is injured through a lack of proper blood or oxygen flow, with ARG-006 focusing on the impact among newborns.

Argenica has been progressing assessment of two drug candidates which may treat HIE: ARG-006 and a mirror-image (or L-isomer) drug, ARG-007, with both being tested in piglet studies to find out which has the preferred target product profile.

Of particular consideration in these assessments will be the different stages of brain injury within HIE – which often occur over several days or weeks, as differentiated from acute ischaemic stroke – seeking to identify which of the two drugs aligns best with this pattern.

Receiving ODD status will provide Argenica with tax credits for qualified clinical trials, exemption from user fees and the potential for seven years of market exclusivity following approval.

The key advantage of the RPDD status is that once a New Drug Application (NDA) is approved for either ARG-006 or ARG-007 in HIE, the FDA could award a Priority Review Voucher (PRV), if HIE is the first indication for which the drug is approved.

The sale price of a PRV is often in the tens of millions of dollars.

at 14:36 AEDT, Argenica shares were trading at 75.5% – a rise of 4.86% since the market opened.

Join the discussion: See what HotCopper users are saying about Argenica and be part of the conversations that move the markets.


AGN by the numbers
More From The Market Online
The Market Online Video

ASX Market Close: Index sets a new closing record | December 3, 2024

The ASX200 closed up 0.56% at 8,495 points, marking a new closing record for the local…
Close up of a gold nuggest

Bubalus to take on VIC exploration licences, prospective for gold and antimony

Bubalus Resources Ltd has been granted an option to take on around 1,000 square kilometres worth…
Glenn Highway in Alaska

Tier 1 mine proximity adds value to Felix’s strong anomaly values in Alaska

Felix Gold Ltd has picked up strong anomaly values following auger sampling work at its NE…
The Market Online Video

ASX Market Update: Index smashes 8,500 barrier as Larry Diamond exits Zip | December 3, 2024

The ASX200 has been up 0.67% at 8,504 points. This marks the very first time the…