Argenica Therapeutics (ASX: $AGN) Quarterly Activities & Cashflow Report

Argenica Therapeutics Limited (ASX: $AGN) has successfully dosed the first patients in its Phase 2 clinical trial of ARG-007 in acute ischaemic stroke. The U.S. Food and Drug Administration granted Rare Pediatric Disease Designation status to ARG-007 for the treatment of Hypoxic Ischaemic Encephalopathy. The company reported cash reserves of $6.6 million as at 31 March 2024 and subsequently raised $12.0 million via a placement to institutional and sophisticated investors.

Executive Commentary on Quarterly Activities & Cashflow

The Company is pleased to report the successful dosing of the first patients in our Phase 2 clinical trial of ARG-007 in acute ischaemic stroke. The Rare Pediatric Disease Designation status granted by the U.S. Food and Drug Administration for the treatment of Hypoxic Ischaemic Encephalopathy is a significant milestone. We are now fully funded to complete our Phase 2 trial of ARG-007 in ischaemic stroke patients and to progress studies in other neurological indications such as Traumatic Brain Injury, Hypoxic Ischemic Encephalopathy, and Alzheimer's disease.

Summary of Quarterly Activities & Cashflow

Argenica Therapeutics Limited (ASX: $AGN) has made significant progress in its Phase 2 clinical trial of ARG-007 in acute ischaemic stroke patients. The company's cash reserves of $6.6 million as at 31 March 2024 and the successful placement of $12.0 million provide a strong financial position to advance its research and development activities. The Rare Pediatric Disease Designation status granted by the U.S. Food and Drug Administration for the treatment of Hypoxic Ischaemic Encephalopathy opens up potential opportunities for the company. Argenica's focus on developing novel therapeutics to reduce brain tissue death after stroke and other types of brain injury demonstrates its commitment to improving patient outcomes.