Contineum Therapeutics Inc.’s midstage study of its multiple sclerosis drug, PIPE-307, missed its primary and secondary endpoints, dropping the stock on Nov. 21. Top-line phase II results from the Vista study of the M1 receptor agonist PIPE-307 for treating relapsing-remitting multiple sclerosis saw no significant changes in binocular 2.5% low contrast letter acuity in the treatment arms, a key efficacy measure.
Contineum Therapeutics Inc. has described lysophosphatidic acid receptor 1 (LPAR1; EDG2) antagonists reported to be useful for the treatment of cancer, idiopathic pulmonary fibrosis, renal fibrosis, nonalcoholic or metabolic dysfunction-associated steatohepatitis (NASH/MASH) and scleroderma.
Biopharma IPOs have faced tough conditions in recent years, but 2024 is showing signs of improvement in terms of value, while stumbling on overall performance. IPO values remain significantly lower than the peak years of 2020-2021 and are still below collective values seen in 2014-2019, however, this year's value marks a recovery compared to the challenging environment of 2023.
Biopharma IPOs have faced tough conditions in recent years, but 2024 is showing signs of improvement in terms of value, while stumbling on overall performance. IPO values remain significantly lower than the peak years of 2020-2021 and are still below collective values seen in 2014-2019, however, this year's value marks a recovery compared to the challenging environment of 2023.
A Contineum Therapeutics Inc. patent describes a crystalline form of lysophosphatidic acid receptor 1 (LPAR1; EDG2) antagonists reported to be useful for the treatment of brain cancer, glioblastoma, idiopathic pulmonary fibrosis, inflammatory disorders, multiple sclerosis, neurodegeneration, neuropathic pain and scleroderma, among others.
Researchers from Contineum Therapeutics Inc. have presented preclinical data for the novel brain penetrant lysophosphatidic acid receptor 1 (LPAR1) antagonist, PIPE-791, being evaluated in models of neuropathic pain.
With high hopes for its LPA1R antagonist program, Contineum Therapeutics Inc. has priced an IPO of 6.9 million shares of its class A common stock at $16 per share as it seeks to generate $110 million in gross proceeds. The San Diego-based company began trading on Nasdaq under the ticker CTNM on April 5, with shares ending the day at $15.40, down 3.8%. There have been nine other biopharma IPOs so far in 2024.
