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CHF15m
Research: Healthcare
Kinarus has announced that it has dosed the first patient in its Phase II KINFAST study evaluating lead candidate KIN001 in mild or moderate COVID-19 patients in an outpatient setting. KINFAST is a placebo-controlled study that is designed to recruit c 400 patients across multiple sites in Switzerland and Germany. Interim data are expected after the enrolment of c 140 patients, which we anticipate should help guide KIN001’s future development as a potential treatment for COVID-19.
Kinarus Therapeutics |
Phase II COVID-19 outpatient study underway |
Clinical study initiation |
Pharma and biotech |
31 August 2022 |
Share price performance Business description
Analysts
Kinarus Therapeutics is a research client of Edison Investment Research Limited |
Kinarus has announced that it has dosed the first patient in its Phase II KINFAST study evaluating lead candidate KIN001 in mild or moderate COVID-19 patients in an outpatient setting. KINFAST is a placebo-controlled study that is designed to recruit c 400 patients across multiple sites in Switzerland and Germany. Interim data are expected after the enrolment of c 140 patients, which we anticipate should help guide KIN001’s future development as a potential treatment for COVID-19.
Year end |
Revenue (CHFm) |
PBT (CHFm) |
EPS |
DPS |
P/E |
Yield |
12/20 |
0.0 |
(1.5) |
(0.31) |
0.00 |
N/A |
N/A |
12/21 |
0.0 |
(4.9) |
(0.00) |
0.00 |
N/A |
N/A |
Source: Kinarus Therapeutics. Note: 2020 accounts reflect statements of privately held Kinarus AG and 2021 statements represent pro forma financials of Kinarus Therapeutics AG following the reverse merger transaction with Perfect Holding.
KINFAST is the company’s second Phase II study assessing KIN001 in COVID-19 patients, and the first to assess the drug in ambulatory patients not requiring hospitalisation. Kinarus’s first study, KINETIC, is enrolling hospitalised COVID-19 patients and as of 6 June 2022 had enrolled 131 patients (out of a planned enrolment target of c 430); interim data are expected to be released in late Q322. Blinded KINETIC data show that KIN001 was well tolerated in 131 patients.
KIN001 is a patented orally dosed combination of p38 mitogen-activated protein kinase (p38 MAPK) inhibitor pamapimod (in-licensed from Roche) and pioglitazone. In both KINFAST and KINETIC, subjects in the KIN001 treatment arms receive a total daily dose of 150mg pamapimod and 10mg pioglitazone. The combination has shown preclinical activity suggestive of antiviral, anti-inflammatory and anti-fibrotic activity. As discussed in the company’s recent webinar, the clinical stages of COVID-19 often reflect a continuum (lacking clear-cut distinctions), and KIN001’s multifaceted mechanism of action could provide therapeutic effectiveness across both the earlier and later stages of the disease. This could help differentiate KIN001 from currently authorised treatments, which are generally limited in their use to either earlier or later disease stages. Kinarus has shown in vitro data indicative of robust antiviral efficacy of equal potency against the original SARS-CoV-2 strain and variants of concern, including delta and omicron. The company attributes this effectiveness across multiple variants to KIN001’s ability to target the human host cell pathways required for SARS-CoV-2 viral replication, rather than targeting the virus itself (which helps distinguish KIN001 from antiviral or monoclonal antibody therapies).
We believe the data from KINFAST and KINETIC will inform future development strategies for the product candidate in COVID-19, namely whether the best development path lies in hospitalised patients or those with less severe COVID-19 disease. We also anticipate that Kinarus will start a Phase II study in KIN001’s lead indication, wet age-related macular degeneration, in Q422, subject to funding.
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Research: Industrials
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