In a groundbreaking development, clinical-stage biopharmaceutical company PaxMedica Inc saw its stock surge by an unprecedented 175% to $8.39 on Tuesday morning following the release of research findings in the Annals of General Psychiatry regarding a study on low-dose suramin intravenous infusions as a potential treatment for Autism Spectrum Disorder (ASD).
At the time of this publication, PaxMedica Inc stock (PXMD) has witnessed a surge.
PaxMedica Inc
Current Price: $6.64
Change : +3.59
Change (%): (117.54%)
Volume: 21.3M
Source: Tomorrow Events Market Data
The study, which involved 52 boys aged 4-15 diagnosed with moderate to severe ASD, unveiled promising results in ameliorating core symptoms, particularly with the administration of a 10 mg/kg suramin infusion.
The primary objective of the study was to evaluate the efficacy and safety of suramin intravenous infusions. Notably, participants receiving a 10 mg/kg suramin dosage demonstrated encouraging improvements in core symptoms.
Moreover, a notable and statistically significant improvement was noted in the Clinical Global Impressions-Improvement (CGI-I) scale among those in the 10 mg/kg suramin group when compared to the placebo group.
PaxMedica heralded this research as a substantial stride in comprehending treatment options for ASD, underscoring the company’s unwavering commitment to enhancing the quality of life for individuals affected by the disorder.
Market analysts have hailed PaxMedica’s breakthrough as a potential game-changer in the field of ASD treatment, with many investors keeping a keen eye on the company’s future endeavors. The significant stock upswing reflects the widespread optimism and anticipation surrounding the potential impact of this research on the lives of those grappling with ASD and their families.
PaxMedica, headquartered in the heart of the biopharmaceutical hub, has long been dedicated to pioneering innovative solutions for complex medical conditions. With this latest advancement in ASD research, the company stands poised to make a substantial mark in the realm of neurodevelopmental disorders.
Investors, stakeholders, and healthcare professionals alike are now closely monitoring PaxMedica’s trajectory, eager to witness the next stages of development and the potential implications for the broader medical community.
