Neuren Pharmaceuticals shares rise on first-half profit surge
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More news: Neuren Pharmaceuticals shares advanced after the biotech reported an 87.5% leap in first-half profit, boosted by growing royalties from sales of its Retts syndrome treatment in the US.
Neuren shares were up 4.6% to $18.61 at 12:25pm AEST, taking 12-month gains to 18.2%.
Neuren Pharma sees 88% lift in first-half profit as US royalties rise
The news: Neuren Pharmaceuticals has booked an 87.5% jump in first-half profit to $15 million, after the biotech company saw an uptick in royalties from US sales of its Retts syndrome treatment Daybue.
The numbers: Neuren took in half-year royalties from Daybue of $28.3 million, up 16.5% compared to the prior corresponding period.
First-half net sales reported by Neuren's US distributor Acadia Pharmaceuticals totalled USD180.7 million ($278.2 million), up 12.6% year on year from USD160.5 million.
Acadia has guided for full-year US net sales of USD380 million to USD405 million, implying full-year royalty income for Neuren of $62 million to $67 million, compared with $56 million in 2024.
The context: Neuren said there is "substantial potential for future growth" in the US, with two-thirds of the 5,500 to 5,800 diagnosed Rett patients yet to try Daybue. Outside the US, Acadia continues to build its European commercial team in anticipation of regulatory approval in the first quarter of 2026.
Neuren said its financial strength has enabled it to pursue development of its second drug NNZ-2591 to treat multiple neurological conditions. This includes its upcoming phase 3 trial in Phelan-McDermid syndrome, a serious neurodevelopmental disorder with no approved treatments.
Neuren also saw its program for NNZ-2591 in Pitt Hopkins syndrome receive fast track designation from the US Food and Drug Administration in February.
The source: ASX
