Plenty of cash for Peplin
Tuesday, 02 December, 2008
Australian-US biotech Peplin has reported a healthy cash balance of US$12.8 million, in addition to a recent private placement of US$24 million.
Releasing its financial results for the quarter ended September 30 to the ASX, Peplin said it believed the balance would be sufficient to fund Phase III trials of its topical ingenol mebutate, PEP005.
PEP005 is aimed at treating solar actinic keratoses on the head and body. Peplin recently began a Phase III trial in non-head applications.
The company said it was on track to report results of its Phase IIb trial in head applications in the first quarter of 2009.
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