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PYC Therapeutics (ASX:PYC) has jumped on Friday as it moves on the the next stage of its escalating single-dose study using its drug PYC-001 to treat a genetic children’s disease causing blindness.
(Most gains, however, were quickly sold off.)
Autosomal Dominant Optic Atrophy (ADOA) ultimately leads to lesions and leakage of fluids within the eye that deteriorates such that most with the condition are legally blind by middle age.
After a review of the first batch of four-week data, the company has the green tick to continue. That would be normal in itself were it not for PYC’s +40% 1Y returns, putting it among a cohort of ASX biotech stocks currently having a fairly good run.
PYC’s main value proposition for ADOA treatments is that the condition has no known cure. PYC’s flagship drug is administered to the eye on the scale of micrograms – those doses will get bigger so long as trialling patient outcomes remain positive.
“PYC will now progress to dosing patients in cohort two of this trial with a view to establishing the safety/tolerability and initial efficacy profile of this drug candidate through the course of 2025,” the company wrote on Friday.
PYC last traded at $1.22.
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