Therapix Biosciences Ltd. (NASDAQ: TRPX) is a specialty clinical-stage pharmaceutical company creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals.
On October 1st, TRPX shares closed at $4.57 and have since then hit an intra-day high of $7.65 (+67%). Trading volumes have increased dramatically in the same time frame.
The cannabinoid system is prone to “entourage effect”, whether THC being potentiated by other cannabinoids or by terpene compounds. Therapix’s leading entourage compound is PEA. Combining PEA with THC may stimulate cannabinoid receptors, inhibit metabolic degradation, and thus increase uptake of THC.
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Product Candidates
Four clinical programs to treat underserved central nervous system disorders:
THX-110: A drug candidate platform for the treatment of symptoms related to Tourette syndrome (TS), as well as Obstructive Sleep Apnea (OSA) and chronic pain.
The THX-110 program takes a unique approach to cannabinoid formulation using the “Entourage Effect” hypothesis (i.e. in which Endocannabinoid system constituents work synergistically together). THX-110 is a proprietary combination drug based on dronabinol and PEA. PEA is a cannabinoid mimetic lipid molecule, which naturally occurs in various plant and animal sources.
THX-130: An “Ultra Low-Dose” THC targeting the high value and unserved market of Mild Cognitive Impairment (MCI), using a unique and proprietary drug development and delivery dosage platform.
THX-150: A drug candidate intended for the treatment of infectious diseases. It consists of a selected antibacterial agent, with THC or a combination of THC and PEA, to potentially exert antimicrobial synergy.
THX-160: An innovative and proprietary CB2 receptor agonist formulation intended for the treatment of pain. This specific CB2 receptor agonist was synthesized by Professor Raphael Mechoulam, Ph.D.
THX-110, THX-130 and THX-150 are using a 505 (b)(2) regulatory strategy based on prior FDA approval of dronabinol.
About
Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of Senior Executives and Scientists. Our focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the company is currently engaged in the following drug development programs based on repurposing an FDA-approved cannabinoid (Dronabinol): THX-110 for the treatment of Tourette syndrome (TS), for the treatment of Obstructive Sleep Apnea (OSA), and the treatment of pain; THX-130 for the treatment of Mild Cognitive Impairment (MCI) and Traumatic Brain Injury (TBI); THX-150 for the treatment of infectious diseases; and THX-160 for the treatment of pain.
Financial review
Q2 and H1 2018
TRPX is a development stage company and has not generated revenues yet.
Net loss of $1.2 million, or $0.35 per ADS, for the three months ended June 30, 2018, compared to a net loss of $1.86 million, or $1.10 per ADS, for the three months ended June 30, 2017. For the six months ended June 30, 2018, net loss of $3.26 million, or $0.93 per ADS, compared to a net loss of $2.5 million, or $1.07 per ADS, for the comparable period in 2017.
Research and development expenses amounted to $0.65 million for the three months ended June 30, 2018, compared to approximately $0.46 million for the three months ended June 30, 2017. For the six months ended June 30, 2018, R&D expenses amounted to $1.64 million, compared to $0.7 million for the comparable period in 2017.
General and administrative expenses amounted to $1 million for the three months ended June 30, 2018, compared to $0.97 million for the three months ended June 30, 2017. For the six months ended June 30, 2018, G&A expenses amounted to $2.14 million, compared to $1.37 million for the comparable period in 2017.
Cash totaled $5.1 million as of June 30, 2018, compared to $9.2 million as of December 31, 2017.
Stock influences and risk factors
Positive results from the company’s clinical trials could act as a catalyst for the company shares.
They have not generated any revenue from the sale of current product candidates and may never be profitable.
They are subject to numerous complex regulations and failure to comply with these regulations, or the cost of compliance with these regulations, may harm the business.
They will need to raise substantial additional funding before they can expect to become profitable from sales of their product candidates. This additional financing may not be available on acceptable terms, or at all.
The regulatory approval processes of the FDA and comparable foreign authorities are lengthy, time consuming and inherently unpredictable.
Stock chart
On Thursday, October 4, 2018, TRPX shares were at $6.40 on traded volume of 1.2 million shares. The current RSI (14) is 69.62
At $6.40, TRPX shares are trading above their 50 DMA and 200 DMA of $4.14 and $4.76 respectively.
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