PaxMedica has filed preliminary prospectus for $17M, on Nasdaq Capital Market under the symbol ‘PXMD’.
Woodcliff Lake, NJ-based PaxMedica is developing anti-purinergic therapies (or APT), for neurodevelopmental disorders.
Antipurinergic therapies target the excess production of purines in cells, which can offset homeostasis and result in an overproduction of cellular adenosine triphosphate, the main energy molecule in all living cells.
Lead program, PAX-101, an intravenous formulation of suramin, is currently in Phase 2B trial at six sites in South Africa for autism spectrum disorder.
Q1 2020 financials: Net loss:$275.2M; Cash:$0.25M
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