Conduit and AI10 Aug 2023 00:00
No message. But it’ll definitely speed progress ;-)
Is holding the put option the better option? With the low demand and low bivalent boosters uptake by the US population there is going to be a huge market for AZD1656 for COVID-19. Think about the numbers
Cizzle has built a significant royalty bearing Economic Interest in AZD1656 for the treatment of COVID-19 and other diseases such as Inflammatory pulmonary and cardiovascular disease.
Forbes - In fact, CDC data indicates that just 17% of the U.S. population has gotten the bivalent boosters approved last September.
In June, the FDA advised drugmakers to update the Covid booster shots to target XBB.1.5, which is currently the predominant strain in the United States. The goal was to give drugmakers enough time to make the boosters available in the fall, and all the major players seem to be on target thus far.
Despite the new vaccines coming, the low demand was a culprit in Pfizer’s earnings miss. The company’s revenue was just $12.7 billion for the second quarter, which fell short of the $13.4 billion analysts predicted. Meanwhile, Moderna’s Q2 report revealed $344 million in revenue, which was sharply down from last year but still beat estimates.
“SGSC and Conduit are actively engaged in commercial discussions with appropriate global and regional pharmaceutical companies, with the objective of outright sale, partnership in future development or securing funding for the additional clinical studies necessary to get AZD1656 to market and patients. These opportunities are for AZD1656 in both Covid-19, and potentially in further indications. Conduit is the exclusive funding partner to SGSC.
Allan Syms, Executive Chairman of Cizzle Biotechnology, said
"The announcement today by SGSC is important because it provides further strong evidence that AZD1656 is a potentially valuable treatment for certain COVID-19 patients and that it seems to be providing benefit by acting as an immunomodulator, which damps down the inflammatory response. This should support SGSC's and Conduit's commercial ambitions to secure agreements with appropriate pharmaceutical companies, which should ultimately yield revenues for Cizzle through our royalty sharing rights.”
"SGSC has also shown a role for AZD1656 in controlling Regulatory T Cells ("Tregs") which may be important in managing serious cardiovascular and lung diseases, and which are linked with the development of lung cancer. This enhances the Company's ambitions to expand its target customer base in the pharmaceutical industry through a strategy of building a portfolio of early cancer detection tests, companion diagnostics and royalty bearing stakes in significant drug assets."
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