TME Pharma: CEO issues message of hope, share price rises

(CercleFinance.com) - On Monday, TME Pharma's CEO sent a message of hope to shareholders of the biotech company, whose share price has plummeted in recent months.


In his letter, Aram Mangasarian mentions 'active and structuring' discussions with strategic industrial partners and potential investors concerning possible transactions, without providing further details.

The biotech's CEO also points out that the strategy surrounding the company's main drug candidate, NOX-A12, remains 'clear'.

The aim is still to obtain approval for its use in patients suffering from glioblastoma, a type of brain tumour, through a strategic partnership with a pharmaceutical company.

Preparations for the evaluation of a randomized, controlled Phase 2 study are progressing, leading the CEO to say that a trial could be rapidly launched as soon as a pharmaceutical partner has been identified or its financing fully secured.

While continuing to focus on oncology, TME says it has also identified a promising opportunity for the rapid development of NOX-E36 in the field of ophthalmology.

Its aim is to create a new entity with full rights to develop its second drug candidate in ophthalmological indications, with the support of private investors.

TME - which recently entered into a partnership with Germany's aimed analytics to strengthen its capabilities in leveraging AI for drug discovery and optimization - says it currently has financial visibility until June 2025.

Despite undeniable clinical advances (the US FDA has granted 'fast track' designation to its NOX-A12), the uncertainty surrounding TME's ability to finance its projects has weighed heavily on the stock, which has fallen by 72% in one year.

Following encouraging words from its CEO, the stock nonetheless recovered more than 11% on Monday morning in early trading.

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