Why the Neuren Pharmaceuticals share price rocketed 50% higher today

The Neuren Pharmaceuticals Ltd (ASX:NEU) share price rocketed 50% higher this morning following the release of two positive announcements…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Neuren Pharmaceuticals Ltd (ASX: NEU) share price is on course to finish the week on a very positive note.

In morning trade the biopharmaceutical company's shares rocketed a massive 50% higher to $1.55 following the release of two announcements.

a woman

What was announced?

This morning the company provided an update on its drug candidate NNZ-2591.

According to the update, treatment with its drug candidate NNZ-2591 has normalised all deficits in a pre-clinical model of both Angelman syndrome (AS) and the neurodevelopmental disorder Pitt Hopkins syndrome (PTHS).

Management anticipates that both AS and PTHS meet the criteria for Orphan Drug designation. It also notes that there are currently no treatments specifically for either syndrome.

Pitt Hopkins syndrome.

PTHS is a neurodevelopmental condition affecting both males and females and is caused by the loss of one copy or a mutation of the TCF4 gene on chromosome 18. It has been estimated to impact as many as 1 in 11,000 people.

The release explains that NNZ-2591 was tested in the tcf4 mutation mouse model, which exhibits features of PTHS in humans, comparing normal mice and mice with a disrupted tcf4 gene.

In the mice with a disrupted gene, treatment with NNZ-2591 for six weeks normalised the deficits in all the tests of hyperactivity, daily living, learning and memory, sociability, motor performance and stereotypy. All positive confirmatory measures were statistically significant.

Angelman syndrome.

AS is a neurodevelopmental condition estimated to affect 1 in 15,000 people, both males and females. It is caused by a deletion or mutation in the ubiquitin protein ligase E3A (UBE3A) gene on chromosome 15.

NNZ-2591 was tested in the ube3a knockout mouse model. This resembles features of Angelman syndrome in humans and includes motor deficits, learning problems, and alterations in synaptic connectivity and plasticity.

The study compared normal mice and mice with a disrupted gene. In the knockout mice, treatment with NNZ-2591 for six weeks normalised the deficits in all the tests of anxiety, daily living, sociability, motor performance, and cognition. It also eliminated seizures. Once again, all positive confirmatory measures were statistically significant.

Neuren isn't the only pharmaceutical company pushing higher today. In late morning trade the CSL Limited (ASX: CSL) share price is up almost 2% and the Clinuvel Pharmaceuticals Limited (ASX: CUV) share price is up 3.5%.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Kingsgate, Neuren, Newcrest, and Pushpay shares are rising today

These ASX shares are avoiding the market selloff on Tuesday.

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Neuren, Northern Star, Race Oncology, and Westgold shares are storming higher

These ASX shares are starting the week in a positive fashion.

Read more »

A woman wearing yellow smiles and drinks coffee while on laptop.
Share Gainers

Why APM, Macquarie Telecom, Northern Star, and Origin shares are rising today

These ASX shares are having a strong session despite the market selloff.

Read more »

Two boys with cardboard rockets strapped to their backs, indicating two ASX companies with rocketing share prices
Share Gainers

Catch these fast-rising 2 ASX shares before it's too late: Celeste

This pair of stocks rocketed up in February during reporting season, but are still great value for those willing to…

Read more »

three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot.
Share Gainers

Why Arafura, Myer, Volpara, and Xero shares are zooming higher

These ASX shares are making their shareholders smile on Thursday.

Read more »

medical asx share price represented by doctor giving thumbs up
Healthcare Shares

Guess which ASX biotech stock just rocketed 29% on big FDA news

The ASX healthcare share is attracting investor interest following FDA approval for its targeted cancer therapy compound.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Mesoblast, PolyNovo, Pushpay, and Weebit Nano shares are charging higher

These ASX shares are having a strong session despite the market selloff.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why InvoCare, Pentanet, Sayona Mining, and Weebit Nano shares are storming higher

These ASX shares are having a strong session on Tuesday.

Read more »