STOCKHOLM - Medivir AB (Nasdaq: MVIR) (Stockholm: MVIR), a Swedish biopharmaceutical company, today announced that Vetbiolix, its French veterinary biotechnology partner, has reported positive outcomes from a Proof-of-Concept clinical study of VBX-1000, a drug candidate for treating periodontal disease in dogs. VBX-1000, previously identified as MIV-701, is noted as the first specific cathepsin-K inhibitor for this purpose.
The study highlighted that VBX-1000 was well-tolerated by canine subjects and met the primary efficacy endpoint with a statistically significant reduction in the plasma biomarker for bone degradation (CTX1).
These results pave the way for Vetbiolix to consult with field experts to organize a regulatory Pilot clinical study. This upcoming study aims to further validate VBX-1000's efficacy through a double-blind, randomized, placebo-controlled clinical trial in dogs.
Medivir, which initially developed MIV-701 for human use, discovered its potential for veterinary application and out-licensed it to Vetbiolix in 2019. Under the partnership agreement, Medivir is poised to receive minor development and regulatory milestone payments, with additional revenue potential from future royalty payments on net sales and/or a share of partnering payments from Vetbiolix should VBX-1000 be further partnered with other entities.
Jens Lindberg, CEO of Medivir, commented on the collaboration's success, stating that partnerships are a strategic part of the company's business model to enhance asset development and mitigate financial risks. He also noted that the positive study results affirm the quality of Medivir's research and contribute to its portfolio of clinically beneficial candidates.
Medivir specializes in the development of novel cancer treatments, particularly in areas with significant unmet medical needs. The company's current focus is on fostroxacitabine bralpamide (fostrox), a targeted chemotherapy for liver cancer designed to maximize therapeutic impact while minimizing side effects. Collaborative efforts are integral to Medivir's operations, with drug development being conducted internally or through partnerships.
This information, based on a press release statement, provides an update on Medivir's collaborative endeavors and Vetbiolix's progress in the veterinary pharmaceutical field.
InvestingPro Insights
Medivir AB (Nasdaq: MVIR) has recently been in the spotlight due to its innovative approach to veterinary medicine, specifically with the development of VBX-1000 for treating periodontal disease in dogs. The positive outcomes from the Proof-of-Concept clinical study mark a significant milestone for the company. Reflecting on Medivir's financial health and market performance provides a broader understanding of the company's potential. According to InvestingPro data, Medivir has a market capitalization of 166.93 million USD, showcasing its moderate size within the biopharmaceutical industry.
The company's profitability over the last twelve months is evidenced by its P/E Ratio, which stands at 13.98, and slightly adjusted to 14.21 for the last twelve months as of Q2 2023. This indicates a reasonable valuation of the company's earnings in relation to its share price. Furthermore, Medivir's PEG Ratio for the same period is remarkably low at 0.04, suggesting that the company's earnings growth rate is highly favorable compared to its P/E Ratio.
InvestingPro Tips highlight Medivir's significant dividend payments to shareholders, which can be particularly attractive for income-focused investors. Additionally, the stock's low price volatility suggests that Medivir offers a relatively stable investment option in the often turbulent biopharmaceutical market. These insights are complemented by the fact that Medivir has remained profitable over the last twelve months, which is a reassuring sign for potential investors.
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