Investment summary

Phytopharm has completed recruitment into the 400-patient Phase II trial (CONFIDENT-PD) of Cogane in Parkinson's disease, its primary indication; dosing should be completed in December, and data read-out, expected in February 2013, represents a potential inflection point. Cogane earlier demonstrated a positive effect in a preclinical model of ALS, and this should increase confidence in Phytopharm’s strategy to position the chemically related Cogane and Myogane as two projects that can be licensed out separately. Dr Ian Tulloch has been appointed as non-executive director, replacing Sandy Morrison. Edison forecasts a £9.9m cash position for the year ending September 2012.

Last updated on 23/04/2012

Industry outlook

Potential partners could quickly advance the development of Cogane, an orally active agent, for neurodegenerative indications based on existing supportive data packages. Meanwhile, Myogane could be licensed out separately based on the outcome of a preclinical study in glaucoma, which is due to read out in the first half of 2012.

Last updated on 23/04/2012