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LTR Pharma (ASX:LTP) – a recent ASX listee developing a viagra-like nasal spray – has rocketed +48% on Friday after positing positive trial results.
The company has been the focus of some retail investors, but also notably popular in institutional circles.
A recent note from Australian firm Alpine Capital’s Thomas Schoenmaker described the company as risking a “novelty” label – but did outline its main investment thesis.
According to Alpine, the key thing about LTR’s nasal spray is that it can produce an erection fairly quickly – in a matter of minutes, as opposed to the hour plus viagra can take.
In the world of casual (or committed) sex, a lot can change in a matter of minutes, let alone an hour.
The company reported on Friday that one patient responded within 9 minutes of inhalation.
Key to the company’s recent success is that it’s the only player with the rights to such a product – implying a strong commercial offering to the market.
“This Study further underscores the rapid onset of action of SPONTAN and represents a significant advancement over existing gold-standard oral therapies, which can take over an hour to take effect,” LTN Pharma chair Lee Rodne said.
“The initial results from our pivotal clinical study are encouraging. SPONTAN has the potential to make a significant impact on the global PDE5 inhibitor market.”
LTR Pharma is one of the more compelling success stories of late.
One month returns are up +280%; YTD performance is at +175%.
LTP last traded at $1.01/sh.
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