Neuren Pharmaceuticals: Receives US$10m milestone payment

Neuren Pharmaceuticals Receives US$10m milestone payment

• Neuren Pharmaceuticals (NEU) receives a US$10 million (A$16 million) milestone payment from its partner, Acadia Pharmaceuticals
• The payment follows the US FDA’s acceptance for review of Acadia’s new drug application for trofinetide, which works to treat Rett syndrome
• Acadia has exclusive rights to develop and commercialise trofinetide in North America, while Neuren holds all rights to the treatment outside of this
• If the new drug application (NDA) is approved by the FDA, the next potential milestone payment to Neuren would be US$40 million (A$62 million), which would be payable following the first commercial sale of trofinetide in the United States
• NeurenPharmaceuticals dips 0.13 per cent to trade at $7.51 at 1:00 pm AEDT