Therapix Biosciences Ltd. (NASDAQ: TRPX) shares saw a solid gain to start the week after it announced topline results for its cannabinoid product platform. Ultimately, the study found that subjects with Tourette syndrome (TS) benefited from the treatment, which is a big step forward for cannabinoid medicines.
The firm announced topline results from its investigator-initiated Phase 2a study at Yale University, which suggest that THX-110 significantly improved symptoms over time in adult subjects with TS.
The primary endpoint of the study was to assess the performance of THX-110 in the treatment of adult patients suffering from symptoms of TS, as measured by the Yale Global Tic Severity Scale Total Tic Score (YGTSS-TTS), the gold-standard and customary index for assessing symptom severity.
The study showed that these 16 subjects with medication-refractory TS had a reduction of tic symptoms from the baseline. This resulted in an average tic reduction of 21% across the entire sample.
Adi Zuloff-Shani, Ph.D., Chief Technology Officer at Therapix, commented:
The successful completion of this study is a key milestone in our clinical development plan of our proprietary drug candidate THX-110 for the treatment of Tourette syndrome for which current available treatments are frequently inadequate or unsafe. Moreover, these results are of particular interest as the pharmacology of THX-110 appears to be distinct from existing medications for TS and may offer a unique option for treating these patients. This study was designed primarily to confirm safety, tolerability and feasibility in this challenging patient population and is encouraging that we obtained positive data that suggests that the combination of dronabinol (∆-9-tetrahydracannabinol) and palmitoylethanolamide (PEA) (THX-110) should be pursued as a treatment for TS patients. Based on these study results, we intend to initiate a randomized, double-blind, placebo controlled study to evaluate the safety, tolerability and efficacy of daily oral THX-110 in treating adults with Tourette syndrome.
Shares of Therapix were last seen up 41% at $7.02, with a consensus analyst price target of $18.00 and a 52-week range of $4.26 to $8.18.