Why the Neuren (ASX:NEU) share price is moving higher today

The Neuren Pharmaceuticals Ltd (ASX: NEU) share price is treading higher today after announcing strong progress on its milestone targets.

| More on:
medical asx share price represented by doctor giving thumbs up

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Neuren Pharmaceuticals Ltd (ASX: NEU) shares are trending higher in early afternoon trade. This comes after the biotech company announced it has successfully completed manufacturing a drug substance for its Phase 2 trials.

At the time of writing, the Neuren share price has jumped to an intraday high of $1.28, up 1.99% for the day so far.

What did Neuren announce?

The Neuren share price is edging higher as investors appear pleased with the company's progress.

According to its release, Neuren's second drug candidate, NNZ-2591, has been manufactured ahead of Phase 2 trials. The company is currently preparing to submit Investigational New Drug (IND) applications to the United States Food and Drug Administration (FDA). If approved, this will enable Neuren to run clinical trials in children who suffer from Phelan-McDermid syndrome, Angelman syndrome and Pitt Hopkins syndrome.

Neuren's latest announcement ticks off four of the milestones the company set out for 2021 in a recent corporate presentation. At current, five remaining checkpoints are still to be completed. These include:

  • Submission of the NNZ-2591 IND to the FDA.
  • Completing patient enrolment in the trofinetide Rett syndrome Phase 3 study.
  • Commencing NNZ-2591 Phase 2 trials.
  • Achieving orphan designation status in the United States and Europe for Prader-Willi syndrome.
  • Compiling results from the Trofinetide Rett syndrome Phase 3 trial (result highlights to be released in Q4 2021).

Commentary from the CEO

Neuren CEO Jon Pilcher hailed the company's developments, saying:

We have successfully developed a proprietary process for large scale manufacturing with exceptional purity and high yield. This is a key part of the strong foundations we have built for NNZ-2591, which can now be leveraged across multiple valuable indications.

As well as supplying the upcoming trials in Phelan-McDermid, Angelman and Pitt Hopkins, the campaign has produced enough drug substance at no extra cost to supply a Phase 2 trial in Prader-Willi syndrome.

Neuren share price performance overview

The Neuren share price has been a weak performer over the past 12 months, falling by nearly 28%. Neuren shares took a wild ride last year, hitting a low of 96.5 cents in March before accelerating to $1.845 in June.

Based on the current share price, Neuren has a market capitalisation of around $144 million.

Should you invest $1,000 in Neuren Pharmaceuticals Limited right now?

Before you buy Neuren Pharmaceuticals Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Neuren Pharmaceuticals Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 6 March 2025

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Share Market News

Which ASX sectors led the pack in March, according to Macquarie?

It was a volatile month for ASX 200 shares...

Read more »

Silhouettes of nine people climbing a steep mountain to the top at sunset, and helping each other along the way.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was rocked by 'Liberation Day' this Thursday.

Read more »

A mature age woman with a groovy short haircut and glasses, sits at her computer, pen in hand thinking about information she is seeing on the screen.
Superannuation

AustralianSuper sticks with US stocks despite recent turmoil

AustralianSuper’s head of international equities says they won't be shifting focus to Europe.

Read more »

Smiling man sits in front of a graph on computer while using his mobile phone.
Opinions

2 compelling ASX shares I'd buy now following the tariff stock market pain

These investments could make excellent buys in the current market sell-off.

Read more »

Child drinking milk out of a glass.
Share Gainers

Guess which ASX All Ords share just rocketed 12% in today's crashing market?

This ASX All Ords share is surging today despite the Trump tariff market turmoil. But why?

Read more »

Excited couple celebrating success while looking at smartphone.
Share Gainers

Why Astral, Newmont, Ramelius, and Synlait shares are defying the market selloff and rising

These shares are rising despite the market weakness today. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why ANZ, Breville, Cettire, and Treasury Wine shares are dropping today

These shares are having a tough time on Thursday. But why?

Read more »

A man sits in deep thought with a pen held to his lips as he ponders his computer screen with a laptop open next to him on his desk in a home office environment.
Share Market News

How are ASX 200 investors responding to the new Trump tariffs today?

Australia didn’t escape the new Trump tariffs. Here’s how ASX investors are repositioning today.

Read more »