TEL AVIV - PainReform Ltd. (NASDAQ:PRFX), a clinical-stage pharmaceutical company, has announced the filing of a patent for a new manufacturing process for its lead product, PRF-110. The company, which specializes in the reformulation of established therapeutics, stated that this development could significantly enhance manufacturing efficiency and reduce production costs.
The new process, which has completed successful testing, is designed to streamline production and increase scalability in anticipation of a future market launch. It introduces a continuous process manufacturing technique, utilizing a single reactor system to minimize equipment costs and contamination risks. Additionally, the process allows for larger batch sizes while maintaining product quality, potentially leading to lower cost of goods sold.
Ehud Geller, Chairman and interim CEO of PainReform, expressed pride in the team's achievements, emphasizing the potential of PRF-110 to set a new standard in post-operative care. PRF-110 is an extended-release, non-opioid pain relief solution based on ropivacaine, aimed at providing localized and extended post-surgical analgesia.
The patent application reflects PainReform's dedication to protecting its innovations and underscores its commitment to affordability in pain management. The company has recently completed a Phase 3 trial for PRF-110 in bunionectomy, supporting its potential as a safer and more effective option for patients.
PainReform's focus is on addressing the postoperative pain relief market, with an emphasis on reducing the need for opioids. The proprietary drug-delivery system of PRF-110 is designed for direct deposition into the surgical wound bed, offering prolonged pain relief without the requirement for repeated dosing.
The announcement is based on a press release statement by PainReform Ltd. and does not necessarily reflect broader industry trends or potential impacts. The company's forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties. PainReform has a history of significant losses and continues to seek additional capital for its operations and product development.
InvestingPro Insights
PainReform Ltd. (NASDAQ:PRFX) is navigating a challenging financial landscape as it advances its pharmaceutical innovations. With a market capitalization of just 1.06 million USD, the company's financial metrics reflect some of the hurdles it faces. The InvestingPro Data indicates a negative price-to-earnings (P/E) ratio of -0.08 for the last twelve months as of Q1 2024, underscoring the company's lack of profitability during this period. Additionally, the stock has experienced a significant decline, with a 1-year price total return of -94.66%, highlighting the volatility and investor caution surrounding the stock.
Despite these challenges, PainReform is showing strategic moves to improve its financial standing and operational efficiency. One of the InvestingPro Tips notes that the company holds more cash than debt on its balance sheet, which is a positive sign for its liquidity and ability to fund ongoing projects. However, another tip points out that the company is quickly burning through cash, which could raise concerns about its long-term sustainability without additional funding or a successful product launch.
For investors considering the potential of PainReform, it's important to weigh these financial metrics and insights. The company's recent patent filing for an improved manufacturing process of PRF-110 could be a step toward better cost management and scalability, which may eventually reflect in improved financial performance. Investors looking for additional insights can find more InvestingPro Tips to inform their investment decisions at https://www.investing.com/pro/PRFX. With a total of 11 tips available on InvestingPro, interested parties can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, potentially unlocking valuable guidance in navigating the investment landscape surrounding PainReform Ltd.
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