- Recce Pharmaceuticals (RCE) has multiple trials in the pipeline following the September quarter
- RCE reported no serious adverse effects in the seventh cohort who were dosed with 6000mg of its R327 drug and the positive outcomes will see a phase 1b/2a early-stage sepsis efficacy study begin before the end of the year
- Additional clinical trials are set to begin including a phase two UTI trial and phase two study on diabetic foot ulcer infections
- After net cash outflows of $5.86 million, Recce had $5.7 million in cash and 0.97 quarters left of funding but will soon receive an R&D tax incentive estimated to be more than $3.5 million
- Company shares are down 3.55 per cent to close at 68 cents
Recce Pharmaceuticals’ (RCE) shares are down slightly following the release of its quarterly report for the three months to the end of September.
The healthcare company reported net cash outflows of $5.86 million with research and development (R&D) making up $2.79 million of that.
The R&D expenditure supported two active human clinical trials, the establishment of new trials, as well as the advancement of ongoing pre-clinical studies.
Recce completed dosing the seventh cohort of its phase one clinical trial with 6000 milligrams of its R327 drug. Ten healthy male subjects were dosed over one hour and no serious adverse effects were reported.
The positive R327 data will support a phase 1b/2a multi-dose and early-stage sepsis efficacy study with the first subject expected to be dosed before the end of the year.
New clinical trials include a phase two trial of R327 to treat urinary tract infections, and a phase two study on diabetic foot ulcer infections which will be conducted at a NSW teaching hospital.
Recce also strengthened its board and management including the appointment of Dr John Prendergast as Executive Chair.
Dr Prendergast joined the board of directors in April 2018 as a non-executive director before becoming non-executive chair a year later. In his new executive role, he’ll work alongside CEO James Graham.
Dr Phillip Sutton was appointed Vice President of Translational Sciences, Mr Alistair McKeough was appointed Non-Executive Director and Ms Maggie Niewidok was appointed Company Secretary.
The company said these appointments support its growth and development plans.
At the end of the quarter, Recce had $5.7 million in cash and equivalents and an estimated 0.97 quarters left of available funding. The company expects it will soon receive an R&D tax incentive estimated to be more than $3.5 million.
Company shares were down 3.55 per cent to close at 68 cents.