NX1.ASX Updates Funding and Clinical Program
Key points
- Negotiations with Point8 Capital ceased
- IRX-616a Phase 1 trial completed successfully
- $490k received in RDTI proceeds
- Assessing clinical development priorities
Full summary
Nexalis Therapeutics Ltd (NX1.ASX) provided an update on its funding facility and clinical trial program. Negotiations with potential funder, Point8 Capital Pty Ltd, have ceased as the company was unable to progress to a formal funding agreement. The IRX-616a Phase 1 clinical trial has been completed, with results exceeding expectations and no serious adverse events reported. The company is currently assessing clinical development priorities to determine a revised clinical development plan and timeline for its portfolio of drug candidates. Additionally, NX1 received $490k in Research & Development Tax Incentive proceeds following the lodgement of its 2025 income tax return.
Guidance
NX1.ASX received $490k in RDTI proceeds in 2025.
Outlook
NX1.ASX is assessing clinical development priorities and working towards identifying suitable alternative funding solutions.
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