Neuroscientific Biopharmaceuticals (ASX:NSB) share price surges 11% on drug update

This drug candidate is showing real promise. Let's take a closer look

| More on:
A group of three scientists talking excitedly while working in a lab on a diabetes test developed by Proteomics International Laboratories which is an ASX share tipped to explode by Alto Capital

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

The Neuroscientific Biopharmaceuticals Ltd (ASX: NSB) share price is rising today on the back of a clinical trial update.

Shares in the company are trading at 34 cents at the time of writing, up 11.48%.

Let's take a look at what may be weighing on investors' minds today.

What did the company announce?

The Neuroscientific Biopharmaceuticals share price is on the rise following promising results from a safety assessment of the company's lead drug candidate, EmtinB.

In research conducted in vitro, the EmtinB drug did not cause any adverse reactions or toxicity. The trial involved screening 173 potential biological targets known to stimulate drug-induced reactions in humans.

Neuroscientific is a biotechnology company working on peptide-based drugs to treat neurodegenerative diseases.

EmtinB binds to specific proteins known as receptors to activate signalling pathways between the cells. This can help to protect and regenerate the nervous system.

The in vitro trials were carried out by research company Eurofins at laboratories in France. This screen is recommended to reduce risk before progressing to human trials.

The completion of this safety assessment is seen by the company as a major step towards conducting phase I trials in humans.

Management commentary

Speaking on the results fuelling the Neuroscientific Biopharmaceuticals share price, chief executive officer and managing director Matt Liddelow said:

These positive safety results add further confidence to existing safety data for EmtinB in demonstrating it's low likelihood to cause any major safety issues in humans — and is another major step towards achieving the landmark milestone of starting first-in-human Phase I studies in the first half of 2022.

I look forward to updating the market with further progress in the New Year as we advance towards Phase I clinical studies.

Neuroscientific Biopharmaceuticals share price snap shot

The Neuroscientific Biopharmaceuticals share price has gained 36% since the start of the year. For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned more than 12% over the same period.

Despite this, the company's shares have lost 7% in the past month but are up around 8% this week.

The company has a market capitalisation of roughly $43.7 million based on its current share price.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. 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 Healthcare Shares

Two doctors smile as they sit together at a desk looking at a patient's x-ray.
Healthcare Shares

Why Macquarie rates this ASX All Ords medical imaging stock a buy

The broker maintains its outperform rating on the stock.

Read more »

A man in a hospital bed on a drip gives a thumbs up sign.
Healthcare Shares

Macquarie predicts 86% upside for this ASX 200 healthcare stock

Shares could almost double over the next 12 months, according to the broker.

Read more »

A doctor appears shocked as he looks through binoculars on a blue background.
Healthcare Shares

Ozempic maker Novo Nordisk plunges 22%. What could this mean for Resmed shares?

Novo Nordisk just lost $100 billion in market value.

Read more »

A woman jumps for joy with a rocket drawn on the wall behind her.
Healthcare Shares

Guess which ASX 200 stock is jumping 11% today

Let's see why investors are bidding this stock higher on Wednesday.

Read more »

stockmarket graphic in background with man looking at stockmarket on phone
Healthcare Shares

CSL shares are a buy – UBS

This expert is optimistic on what the business can achieve despite headwinds.

Read more »

a biomedical researcher sits at his desk with his hand on his chin, thinking and giving a small smile with a microscope next to him and an array of test tubes and beackers behind him on shelves in a well-lit bright office.
Healthcare Shares

Broker says this ASX 200 biotech stock is a top buy

Let's see what Bell Potter is saying about this biotech.

Read more »

Cropped shot of an attractive young female scientist working on her computer in the laboratory.
Healthcare Shares

Why CSL shares are a buy today despite the looming Trump tariffs

A leading expert believes CSL shares are still trading for a bargain today. Here's why.

Read more »

A businesswoman pulls her glasses down in shock to look at the bad news on her computer.
Healthcare Shares

Why did the Telix share price just crash 16%?

Investors are sending the Telix share price plunging today. But why?

Read more »