Argenica Therapeutics (ASX:AGN) posted positive results in several studies required by the US Food and Drug Administration for inclusion in the company's investigational new drug (IND) application to be submitted by the end of 2024, according to a Wednesday research note from Euroz Hartleys.
The company's in vivo micronucleus rats study confirmed ARG-007 does not impact genetic material, and a high maximum tolerated dose of 17.5 mg/kg was achieved, well above the therapeutic dose used in the current trial, the broker said.
AGN's phase 2 clinical trial in ischaemic stroke patients continues without safety issues and sufficient funding to complete the trial.
In addition, trial data showed that the drug has a unique mechanism of action and pharmacological benefits compared with competitors, the broker said.
Euroz Hartleys has a speculative buy recommendation on Argenica Therapeutics with a AU$1.40 price target.
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