TEL AVIV - PainReform Ltd. (NASDAQ: PRFX), a specialty pharmaceutical company, has announced the successful completion of a Phase III study for its product PRF-110, designed for post-surgical pain relief. The study focused on the use of PRF-110 in bunionectomy procedures, highlighting the product's potential as a leading solution in pain management.
The recent clinical evaluations demonstrated PRF-110's superior coverage and stability when applied to surgical wounds compared to existing pain management options. The product was observed to provide thorough coverage of nerve endings and tissue surfaces, which is critical for effective pain control. PRF-110's unique physical properties allow it to adhere well to the wound bed and stay in place, ensuring the delivery of the intended dose directly to the target area.
Unlike a leading competitor’s aqueous liposomal suspension, which requires multiple injections and may struggle with achieving full wound coverage, PRF-110 showed better adhesion and location adherence. It also addressed the issue of another competitor's product being too viscous and difficult to manage in the presence of physiological fluids.
PRF-110's enhanced viscosity and uniformity were noted to maintain its effectiveness, even when interacting with physiological fluids. These characteristics facilitate ease of application and consistent distribution across the wound bed. The precision delivery method used in the study involved a cannula connected to the syringe's Luer lock, allowing for precise coverage within the wound geometry.
Ehud Geller, Chairman and interim CEO of PainReform, expressed satisfaction with the study results, emphasizing PRF-110's ability to overcome the limitations of current treatments and its role in setting a new standard for post-surgical pain management.
PainReform specializes in reformulating established therapeutics and focuses on the postoperative pain relief market. PRF-110 is based on the local anesthetic ropivacaine and is designed to provide extended pain relief without repeated dosing and to potentially reduce the need for opiates.
The information in this article is based on a press release statement from PainReform Ltd.
In other recent news, PainReform Ltd. has reported encouraging early safety data from its Phase 3 study of PRF-110, a non-opioid post-surgical pain relief solution, and has successfully developed new patented formulations of the same drug. The company has also filed a patent for a new manufacturing process for PRF-110, which is expected to enhance manufacturing efficiency and reduce production costs. However, PainReform has received a notice from Nasdaq regarding its failure to meet the minimum bid price requirement.
These recent developments highlight the company's continued efforts in the development of postoperative pain relief therapy and its commitment to reducing the need for opioids. The safety data and new formulations of PRF-110, as well as the new manufacturing process, are all part of PainReform's ongoing operations.
While the company faces a challenge with the Nasdaq requirement, PainReform continues to focus on its mission to offer a safer and more effective therapeutic option for postoperative pain management. The company's progress underscores its dedication to addressing the significant post-operative pain market and reducing the potential need for opiates.
InvestingPro Insights
PainReform Ltd. (NASDAQ: PRFX) has recently reached a significant milestone with the successful completion of a Phase III study for PRF-110. As the company makes strides in the pharmaceutical industry, it's essential to consider the financial health and market performance that underpin its operations. Here are some key insights from InvestingPro that may be of interest to investors following PainReform's journey:
InvestingPro Data shows that PainReform holds a modest market capitalization of $0.91 million. The company's performance metrics over the last twelve months leading up to Q2 2024 reveal a challenging financial landscape, with an operating income of approximately -$17.83 million and an EBITDA of nearly the same figure. The Return on Assets stands at an alarming -309.43%, reflecting significant inefficiencies in asset utilization.
The stock price has experienced considerable volatility, with a 1-week total return of -13.95% and a more drastic 1-month total return of -47.86%. Over the last six months, the stock has taken a significant hit with an 86.83% decrease in price total return, indicating a rough period for investors.
InvestingPro Tips highlight some critical aspects that investors should be aware of. PainReform holds more cash than debt, which is a positive sign of liquidity. However, the company is quickly burning through cash, which could raise concerns about its long-term financial sustainability. Additionally, the stock has fared poorly over the last month and has taken a big hit over the last week, which may reflect investor sentiment following recent developments.
For investors seeking a deeper dive into PainReform's financials and performance, InvestingPro offers additional tips that could provide further context and guidance. There are 13 more InvestingPro Tips available at https://www.investing.com/pro/PRFX, which could be invaluable for those considering investment decisions related to the company.
As PainReform progresses with its product PRF-110, understanding these financial and market metrics can be crucial for investors to assess the company's potential for growth and the risks involved.
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