IRLAB Therapeutics - External validation boosts quarterly recap

In its Q124 report, IRLAB recapped its efforts in targeting major aspects of Parkinson's disease (PD). The update was enhanced by the recently announced R&D collaboration for IRL757, which is anticipated to fully fund all development activities through clinical proof-of-concept and support the advancement of the development programme through efficacy signal readouts in both PD and Alzheimer's patient populations. IRLAB will take the compound into a Phase I study, funded by the MJFF, later this month. Both of IRLAB's most advanced assets continue to progress through the clinic, with management gearing up for Phase III for mesdopetam and ongoing patient enrolment for pirepemat (Phase IIb). Gross cash at end Q124 of SEK73.1m, with receipt of the US$3.0m upfront payment from the McQuade Center for Strategic Research and Development (MSRD) and drawdown of the remaining SEK25m (SEK55m facility), should see operations into Q125, past key events. Our valuation increases to SEK4.25bn or SEK81.9/share from SEK4.04bn or SEK77.9/share.

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