NEW YORK, NY / ACCESSWIRE / April 14, 2016 / SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced it has issued an update on Propanc Health Group Corp (OTCQB: PPCH).
The report is available here: PPCH April 2016 Update Note. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will be available on these platforms. The firm also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.
“As we have noted in our prior notes on the company, Propanc is pursuing a large market opportunity as it seeks to fast track the development of proenzyme related oncology products. The company first plans to develop clinical trials targeting pancreatic cancer and ovarian cancer, followed by colorectal cancer. The company will be targeting patients with limited therapeutic options for solid tumors, and in the future intends to develop products to treat early stage cancer, precancerous diseases and potentially as preventative treatment for patients at high risk of developing cancer based on genetic screening. According to Global Analyst Reports, the combined world market for pancreatic, ovarian and colorectal cancers are expected to reach over $12 billion by 2020,” commented Ajay Tandon, CEO of SeeThruEquity. “We are maintaining our 12-month price target of $0.87 per share.”
Additional highlights from the update note are as follows:
Propanc progressing towards several milestones
Propanc has several potential milestones ahead as the company advances development of its lead therapeutic candidate, PRP. The company has scheduled a scientific advice meeting with the MHRA (Medicines and Healthcare Products Regulatory Agency), UK, which is expected to occur during April. The meeting will include data from its recent 14-day dose range finding study in rats, which will be used to determine appropriate dosing levels for Propanc’s upcoming 28 day toxicology study. Propanc also expects to file an application for an orphan drug designation in the US and EU for pancreatic and ovarian cancers by the end of 2016. If accepted the designation could allow for an accelerated and less costly time clinical pathway for PRP. Propanc is targeting the commencement of early stage patient trials by the end of 2016/ early 2017. Clearly the dose limiting data and any outcomes form its conversations with regulators could provide additional insight into the how we should view the company’s therapeutic clinical pipeline.
Recent financing to advance pre-clinical studies
On March 21, 2016, Propanc announced the receipt of $1.2mn from an institutional investor for the purpose of fast-tracking its pre-clinical activities. With the investment, Propanc has now received a total of approximately $3.6mn from the institutional investor since the Securities Purchase Agreement, Debenture and Warrant were executed by both parties on October 28, 2015, which SeeThruEquity highlighted in its November 24, 2015 update note on the company. Management has indicated that the funds are intended to support the completion of a 28-day animal safety toxicology study, as well as the development of bioanalytical methods for animals and humans in order to assess the movement of the drug within the body. Propanc also expects recent funding will be used to secure GMP manufacturing and to prepare applications for future patient trials, which Propanc management expects to file later in 2016. The company also announced that it will be in New York for a roadshow from April 28, 2016 to May 4, 2016, during which it will provide an update on its activities. This is likely to include a review of any outcomes with its meeting with the MHRA.
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About Propanc Health Group Corporation
Propanc is currently focused on developing new cancer treatments for patients suffering from pancreatic, ovarian and colorectal cancers. We have developed a formulation of anti-cancer compounds which exert a number of effects designed to control or prevent tumors from recurring and spreading throughout the body. Our products involve or employ proenzymes, which are inactive precursors of enzymes.
In the near term, we intend to target patients with limited remaining therapeutic options for the treatment of solid tumors. In future, we intend to develop our lead product to treat (i) early stage cancer and (ii) pre-cancerous diseases and (iii) as a preventative measure for patients at risk of developing cancer based on genetic screening. For more information, visit: www.propanc.com.