Outlook...25 Mar 2021 11:53
As confidence builds for European approval worth reminding ourselves of the outlook statement in the Feb interims...
Outlook
If approved by the EMA, Chronocort® will provide the Company's commercial cortisol replacement therapy franchise with critical mass, enabling Diurnal to build a strong and profitable European business through penetration of the combined addressable market for the treatment of CAH and paediatric AI, which is estimated by the Company to be worth c.$300 million in Europe alone. In addition, the Group expects an increased contribution from its licensing and distribution partners outside of Europe once regulatory and/or pricing and reimbursement activities for Alkindi® are completed in these territories.
In the US, Diurnal continues to assess the optimal timing for seeking a partner for the commercialisation of Chronocort, which may be following the completion of Phase 3 development itself: if successful, this would be expected to markedly increase the value of the asset.
DITEST™ represents a further valuable addition to Diurnal's growing pipeline of novel endocrinology treatments and, following the fundraising in October 2020, the Company will move forward with the next stage of development in order to maximise the value of this product in the $4.8bn potential market in the US and Europe.