Patrys has today released its Quarterly Activities Report and Appendix 4C Quarterly Cash Flow report for the quarter ended 30 September 2023.
Highlights from the period include:
- Final investigation and audit of manufacturing process nearing completion—targeting new production run for H1 FY2024 subject to availability of production slot
- Final reports on PAT–DX1 GLP toxicology studies expected this current quarter which will complete toxicology data package required to support first in–human clinical trial
- Master Cell Bank established and integration run to enable GLP production of PAT–DX3 completed
The Company had a cash and short–term investment balance of $2.6 million on 30 September 2023, with an expected R&D rebate of $2.7 million in the current quarter.
Patrys CEO and MD, Dr James Campbell said:
“While the delay in the production of GLP PAT‑DX1 drug material for the first‑in‑human clinical trial of PAT‑DX1 has been challenging, the investigation and audit process are near completion. The investigation has confirmed the manufacturing process is robust and repeatable and we remain confident that we will be able to initiate a new production run in H1 CY2024, the timing of which is being finalised.
“We are also delighted to have established the reagents and processes that will enable PAT‑DX3 to enter into a formal development process. Having these available will assist with advancing development and collaboration opportunities that are currently in progress, and will enable Patrys to initiate its own production run and development program when it has the available capital.”