DXB released its quarterly update and thanks to a successful capital raising during the quarter the company has a healthy net cash balance of $6.8m. This is sufficient capital to fund its ongoing programs. The company is expected to announce the top-line results from its DMX-200 FSGS Stage 2a clinical study and treat the final patient in its Stage 2 Diabetic Kidney Disease study by the end of the month with readout expected shortly thereafter. The recently announced DMX-200 Covid-19 Pandemic Study sponsored by the World Health Organisation (WHO) is ongoing. We are positive on the company’s outlook and maintain our SPEC BUY recommendation and price target of $0.72.
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