Respiri patient trial, bottom line both on track
Health & Biotech
Health & Biotech
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Special Report: Respiri’s patient study is on track and on budget, as the company keeps spending tightly under wraps.
Respiri (ASX:RSH) is joining the ranks of health companies which have been able to push ahead with studies in spite of the COVID-19 pandemic, as its real world Patient Experiential Program (PEP) launches on time and on budget.
CEO Marjan Mikel says recruitment of up to 100 medical professionals into the study is accelerating and recruitment of the up to 300 patients will start next week.
“The reason we’ve been able to keep the PEP study on track is because our respiratory management device wheezo and the associated app allow them to be used safely by patients in this new compromised COVID-19 world. Further, people are not required to blow on it, spirometers do, and because it’s a remote monitoring tool patients can share data with their care team and physician from home, work or school, so the solution provides patients with care beyond the clinic “he told Stockhead.
Many clinical trials were called off at the start of the pandemic because hospitals closed their doors to all but COVID-19 patients, meaning companies couldn’t access beds or physicians to run trials, and to protect patients from needing to go to a potentially very risky clinic environment.
Several partners, including Phenix and Instant Consult telehealth providers, are working with Respiri to assist with the recruitment of patients into the real-world study, which will collect data on asthma management from beyond the clinic.
The company expects to announce the start of the study in the September quarter.
Respiri also has reason to crow about its fiscal diligence: while other ASX companies are raising and spending money while investors are still supporting the wave of capital raises, Mikel says Respiri is achieving its commercialisation plan without breaking the bank.
The quarterly report, issued on Wednesday, sees the company with $3.5m in cash at the end of June.
Operating cash outflows for the quarter were $1.7m, lower than the $2.2m Respiri had budgeted for, and all activities remain on track and on schedule.
“It demonstrates our fiscal responsibility and commitment to spending shareholder funds well,” Mikel said.
“We’re still following through on the business and commercialisation plans we’ve laid out to the market and to investors, but we are not overspending to get there.”
In the last few months Respiri has closed agreements with Zip Company (ASX:Z1P), a sales deal with multinational Cipla, and the Pharmacy Guild of Australia to develop an online training course on optimising asthma patient management.
This article was developed in collaboration with Respiri, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.