$PAA:ASX - PHARMAUST - Up 170% over the last 3 months

PharmAust is a clinical-stage company developing targeted cancer therapeutics for both humans and animals through re-purposing marketed drugs lowering the risks and costs of development. They look to have broken through a previous resistance area and could be worth a watch.

Current demand shows 76 buyers for 3,015,228 units with only 19 sellers for 2,181,188 units.

The principal activities of the Company are to develop its own drug discovery intellectual property, namely approximately three platforms for the treatment of different types of cancers in humans and animals, as well as providing specialized medicinal and synthetic chemistry services on a contract basis to clients. The Company's segments are Corporate and Pharmaceutical. The Pharmaceutical segment provides products and services in synthetic and medicinal chemistry to the drug discovery and pharmaceutical industries. The Corporate segment covers all the corporate overhead expenses. Its subsidiaries include Pitney Pharmaceuticals Pty Ltd, which is engaged in business of developing therapeutic cancer products, and Epichem Pty Ltd, which offers a range of rare and hard to find pharmaceutical impurities, degradants and metabolites of active ingredients and excipients, particularly for over-the-counter and generic drugs.

Comment:

Nice 20% gain today.