According to the latest news from Oryzon, the first Alzheimer’s disease (AD) patients (3/90) were recruited into the Phase IIa ETHERAL clinical trial testing ORY-2001, a dual LSD1/MAOB inhibitor for CNS indications. The trial is expected to be finalized in Q419, but Oryzon plans to report preliminary data in early 2019, which is one of the main catalysts in the near term. The second Phase IIa trial with ORY-2001 SATEEN in multiple sclerosis (MS) continues to enroll patients, with the preliminary readout planned in early 2019, another key catalyst for the share price. Our valuation is marginally higher at €322m or €9.4/share (vs €315m or €9.2/share previously).
First patients enrolled into ORY-2001 AD trial
The first three patients out of 90 have been recruited at two sites in Barcelona into the randomised, double-blind, placebo-controlled, 26-week study (n=90) Phase IIa ETHERAL trial with ORY-2001 in AD after the trial was approved by the Spanish Medicines Agency (AEMPS) in April 2018. Oryzon has also recently received approval to start the trial in France and is awaiting approval for the UK, both of which should help with enrolment. In addition, it is planning to start a similar study in the US. The ETHERAL trial is expected to end in Q419, but a preliminary readout is planned in early 2019, which is one of the main catalysts in the near term.
To read the entire report Please click on the pdf File Below: