Pharmaessentia Corp (6446 TT): Third Consecutive Quarters for Operating Profit; Pipeline Raises Hope

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767 Views20 Nov 2024 09:30

Boomeranged on Mon, 6 Jan 2025 13:30

Pharmaessentia has announced positive topline results from phase 3 clinical trial of P1101 for Essential Thrombocythemia (ET) with statistical significance achieved for the primary and secondary endpoints. The company expects to file marketing application for P1101 by the end of 2025. Indication expansion of P1101 in ET will almost double the target patient population size in the U.S.

Tina Banerjee

SUMMARY

Pharmaessentia Corp (6446 TT) reported 66% QoQ increase in operating profit in 3Q24. Scale expansion coupled with tight control over expenses led to such strong performance.
3Q24 marks the six consecutive quarters of sequential revenue increase. Revenue for the first three quarters of 2024 already exceeded full-year 2023 revenue.
Geography expansion of the sole marketed drug Besremi, indication expansion, and pipeline progress will remain the main growth engines. Pharmaessentia is eyeing on Besremi’s indication expansion in US by 2026.

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