Media Coverage

KindredBio shares boosted by progress at end of 2017

Jan 15, 2018 - Animal Pharm
By Sian Lazell 
Animal Pharm
January 15, 2018

US firm Kindred Biosciences recently saw its highest share price in the last three years. 

According to the Animal Pharm Stock Tracker, the California-headquartered company's shares hit $9.44 on December 29, 2017, before falling back slightly as it headed into January.

This is the first time KindredBio's shares have been above the $9 mark since November 2014. It is also up by 177% from the $3.40 price per share the company recorded on December 31, 2015.

KindredBio's recent high point in its stock has no doubt been driven by the progress made by the business towards the end of last year.

Although the firm reported a widening net loss in Q3 2017, it is pushing forward with its pipeline. The company is currently focusing on: the build-out of a small commercial team; preparations for distribution, commercial scale-up and manufacturing of Mirataz and Zimeta; and capital investment of $1-2 million in the development of its pipeline candidates and necessary manufacturing requirements for its biologics program.

By December 2017, the company had moved a step closer to US approval of Zimeta (dipyrone oral gel) for the control of Pyrexia in horses. A pivotal effectiveness study of the candidate yielded positive topline results, enabling the firm to work towards submitting the effectiveness technical section of the New Animal Drug Application (NADA) for Zimeta to the US FDA in early 2018.

During the same month, KindredBio submitted a marketing authorization application for its Mirataz (mirtazapine transdermal gel) candidate for weight loss management in cats in Europe.

Going into 2018, the firm could will continue with its commercialization efforts and the build-out of its new biologics facility, which it acquired in August last year.

Animal Pharm editor Joseph Harvey visited the site and spoke to KindredBio about its plans to take the facility from 'shell to sell' over the next two years.

Reprinted with permission of Animal Pharm News




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