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Diurnal soars after securing Nordic distribution deal

Thu, 28th Mar 2019 08:35

(Sharecast News) - Diurnal's shares leapt on Thursday despite a widened interim loss as the company landed a marketing and distribution deal for its Alkindi treatment in Scandinavia.Diurnal, which is a specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, returned a loss before tax of £9.6m for the six-month period ended 31 December, an increase of 23% compared to the same period the year before, as research and development costs increased by 62% to £7.6m.Sales increased from £0.1m to £0.2m after the company launched Alkindi in the UK in September, its second launch following introduction in Germany in May, while it also entered into a marketing and distribution agreement that covers the commercialisation of Alkindi in Sweden, Denmark, Norway, Finland and Iceland with Anthrop Pharma.Martin Whitaker, chief executive of Diurnal, said: "The company has made excellent progress with Alkindi with sales performance in line with the board's expectations, following successful launches in the UK and Germany, and with continued growth after the period end. Further Alkindi launches are planned for 2019 in Europe. We have also clarified the US regulatory path for Alkindi, facilitating the company's first New Drug Application to the US Food and Drug Administration in Q4 2019."The increase in research costs came as the AIM traded company undertook activities to initiate a Chronocort US Phase 3 trial in congenital adrenal hyperplasia and a US Phase 2 trial in paediatric adrenal insufficiency, in addition to completion of the Chronocort Phase 3 registration trial in Europe and the transition of patients completing this study into the European long-term follow-on study."Despite the initially disappointing top-line analysis of data from the Chronocort European Phase 3 study in CAH, following further in depth analysis of the study results we continue to believe that Chronocort represents a valuable treatment option for patients based on multiple important clinical parameters. We have requested scientific advice from the EMA in order to clarify the regulatory path for a potential Marketing Authorisation Application (MAA) and we expect to receive this advice in Q2 2019," said Whitaker.The company said it expects further Diurnal country launches during 2019 to accelerate growth of revenues, along with a planned NDA submission in the US during Q4 2019, while it added that strong US interest in Alkindi and Chronocort has been received and will licensing discussions will continue.Diurnal's shares were up 19.15% at 28.00p at 1058 GMT.
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10 Jan 2019 11:33

Diurnal Shares Surge As Secures Second Patent For Chronocort In US

LONDON (Alliance News) - Diurnal Group PLC on Thursday said the US Patent & Trademark Office has granted the company a second US patent for Chronocort.Diurnal shares almost tripled on a

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10 Jan 2019 11:26

Diurnal awarded US patent for Chronocort product

(Sharecast News) - Specialty pharmaceutical company Diurnal Group announced on Thursday that the US Patent and Trademark Office (USPTO) has granted a second US patent for its 'Chronocort' modified release hydrocortisone product.

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17 Oct 2018 12:10

Diurnal halts US development of Chronocort after European trials come up short

(Sharecast News) - Speciality pharmaceutical company Diurnal has put all development activities for its modified release hydrocortisone product on hold after it failed to meet its primary endpoint in a recent phase-three European trial.

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17 Oct 2018 10:41

Diurnal Puts All Chronocort US Development Activities On Hold

LONDON (Alliance News) - Diurnal Group PLC said Wednesday it decided to put all US development activities for its Chronocort product on hold, after it failed to meet its primary objective in its a

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8 Oct 2018 17:07

LONDON MARKET CLOSE: Stocks End Lower On Chinese And Italian Woes

LONDON (Alliance News) - Stocks closed lower Monday on the actions of the Chinese and Italian governments, as the pound continued its fall on news from 10 Downing Street there remains "big in of

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8 Oct 2018 15:15

Diurnal Group Child Adrenal Insufficiency Drug Approved In Scotland

LONDON (Alliance News) - Diurnal Group PLC said Monday the Scottish Medicines Consortium approved the routine use of Alkindi, a first-line treatment of young children with adrenal insufficiency to

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8 Oct 2018 12:00

LONDON MARKET MIDDAY: China Prompts Sell-Off In Europe; Insurers Fall

LONDON (Alliance News) - Share prices in London had slipped firmly into the red by midday on Monday following a slump in Chinese equities overnight."Europe is following the Asian lead, with a 3%

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8 Oct 2018 10:33

WINNERS & LOSERS SUMMARY: French Connection In Vogue On Possible Sale

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - up 1.0%. The asset manager confirmed it is in to

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8 Oct 2018 09:29

Diurnal's endocrine drug does not meet trial objective

(Sharecast News) - Clinical trials of Diurnal Group's Chronocort drug failed to meet the primary objective of proving superior to conventional therapy in endocrine control over a 24-hour period.

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8 Oct 2018 08:54

Shares In IP Group, Diurnal Suffer After Chronocort Trial Disappoints

LONDON (Alliance News) - Diurnal Group PLC said Monday its phase-three European trial of Chronocort did not meet its primary objective, causing shares in the pharmaceutical company to property IP

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8 Oct 2018 07:48

LONDON MARKET PRE-OPEN: Lower Call; Schroders Confirms Lloyds Talks

LONDON (Alliance News) - Stocks in London on Monday are set to continue last week's slide, fuelled by concerns that strong US economic data will lead to a quickened pace of interest rate hikes.In

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5 Oct 2018 09:20

Diurnal kicks off adrenal condition trial with first patients

(Sharecast News) - Specialist pharmaceutical company Diurnal said it had enrolled the first two patients in its US-based Chronocort phase III trial for adults with congenital adrenal hyperplasia (CAH).

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5 Oct 2018 08:16

Diurnal Enrols First Patients In Phase Three US Chronocort Trial

LONDON (Alliance News) - Pharmaceutical company Diurnal Group PLC on Friday said the first two patients have been enrolled into its phase three US trial of Chronocort.Chronocort is a form a

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20 Sep 2018 09:56

Diurnal Generates First Revenue But Loss Deepens As Costs Rise

LONDON (Alliance News) - Pharmaceutical firm Diurnal Group PLC said Thursday its annual loss deepened amid higher costs despite generating its first revenue from drug sales.For the year the

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15 Aug 2018 12:39

German Body Says Diurnal Alkindi's Benefit Over Generic Not Proven

LONDON (Alliance News) - Diurnal Group PLC said Wednesday a German body published a study which says that the benefit of the company's product Alkindi over generic hydrocortisone has not been

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