- The CDC estimates 1 out of 36 children in the United States have been diagnosed with Autism Spectrum Disorder – with a therapeutic market potential of $3.42 billion by 2030
- PaxMedica’s mission is to help eliminate, reduce, or modulate the troublesome aspects of ASD, an unmet medical need in the industry
- CEO Howard Weisman shared important updates and achievements in the company’s pipeline, financial outlook, and future vision
In a 2020 report released by the Centers for Disease Control and Prevention (“CDC”), it was estimated that 1 out of 36 children had been diagnosed with autism spectrum disorder (“ASD”) in the United States. While ASD is not uncommon, there are no pharmaceutical treatments approved to treat the disorder, only to manage the symptoms – which creates an unmet need in the industry. The ASD therapeutics market was valued at $1.93 billion in 2022 and is expected to reach $3.42 billion by 2030, growing at a CAGR of 7.9% (https://ibn.fm/RprVv).
It is essential to note that these estimates do not factor in the potential impact of treatments designed to address the core symptoms of ASD.
PaxMedica (NASDAQ: PXMD), a clinical-stage biopharmaceutical company focused on developing novel anti-purinergic therapies (“APTs”) for the treatment of ASD and other serious conditions with intractable neurologic symptoms, is on a mission to help, reduce, and modulate some of the more challenging aspects of ASD. The company hopes to enable people with autism to integrate their behavior with others more successfully and improve their quality of life.
PaxMedica recently released a Fireside Chat video with its Chairman and CEO Howard Weisman. The comprehensive video update shares insights into the company’s recent achievements and advancements – underscoring the commitment to groundbreaking therapies and transformative solutions (https://ibn.fm/5tAEy).
Mr. Weisman covered the following key attributes during the video:
Regulatory Update: Insights from the recent FDA Type-B meeting on October 25th shed light on the regulatory pathway for HAT-PAX-101.
Financial Boost: A successful $7 million public offering, strengthening PaxMedica’s balance sheet and providing a financial platform for production and clinical trial initiatives.
Strategic Acquisition: The acquisition of suramin research assets from Rediscovery Life Sciences (“RLS”), potentially expediting the NDA submission for PAX-101.
Clinical Trials Progress: Updates and insights into future Autism Spectrum Disorder (“ASD”) trials.
Business Efficiency: PaxMedica’s business strategy emphasizes efficiency, production milestones, and key partnerships with organizations like Vox Nova.
Future Vision: PaxMedica’s business strategy, including NDA plans for PAX-101 and potential advancements in autism treatment.
The Fireside Chat is available on the company’s YouTube channel at https://ibn.fm/Yx2R3.
PaxMedica plans to continue into 2024 with the momentum it has gained during the current year. The company is on a promising path to address the unmet medical needs associated with ASD, bringing hope to millions.
For more information, visit the company’s website at www.PaxMedica.com.
NOTE TO INVESTORS: The latest news and updates relating to PXMD are available in the company’s newsroom at https://ibn.fm/PXMD
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