Pharnext's shares jumped on Thursday, boosted by encouraging comments from its CEO, who said he remained hopeful that the company's experimental treatment for Charcot's disease would be brought to market.

Hugo Brugière, CEO of the biopharmaceutical company, said he had sensed the interest and expectations of patients and the medical community at the latest annual conference of the CMT-France association.

The conference, held on March 23, is an information day which brings together all those concerned by Charcot-Marie-Tooth disease with specialist doctors.

Pharnext says it presented the latest data from its ongoing analysis of the pivotal Phase III trial for PXT3003, its drug candidate in Charcot-Marie-Tooth disease type 1A (CMT1A).

The analysis of Phase III data for PXT3003 in CMT1A is well advanced and, although not yet complete, we are beginning to see more clearly the potential of our product and remain hopeful that we will finally be able to bring a medical solution to CMT1A patients", said Hugo Brugière.

"There is still a long way to go, and we have no certainty that we will succeed in gaining acceptance for PXT3003, but we will give it every chance", he added.

While the Phase III study showed rather disappointing results, the data analyst reportedly highlighted a better response in non-overweight and relatively young patients (aged under 45), leading Pharnext to seek marketing applications in Europe and the USA.

The stock is currently up over 36%, but remains down 90% in 2024.

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