SeeThruEquity reported an optimistic coverage on Propanc Health Group Corp (OTCMKTS:PPCH) and set price target of $1.52 a share. It highlighted the fact that company is working to develop a long term therapy to avoid recurrence and metastasis.
Propanc’s pro-enzyme therapy, chiefly its lead drug, PRP is believed to resolve the issue by aiming malignant cancer cells using multiple pathways. It can result in a long-term clinical advantage for patients. The company reported that the formal animal studies are in their final phase following which Propanc can begin the human trials next year. Upon commercialization, PRP will be offered to leading oncologists across global territories for certain cancer indications totaling a addressable market worth $9 billion.
A targeted therapy
The company’s lead drug candidate PRP is a once-daily administered pro-enzyme as a clinically stated therapeutic alternative in the deterrence and treatment of cancer. It would mark as the first therapy having such characteristics, as currently there are no FDA approved therapies for the long-term management or deterrence of fatal conditions.
The company intends to offer oncologists and patients with more effective treatments for metastatic cancer that demonstrate low side effects profile, especially in pancreatic and colorectal cancers. There is a dire need for enhanced care standard in cancer treatments with the available treatments resulting in considerable side effects for the minimal benefits provided. The changing environment along with increasing aging population has resulted in higher demand for effective cancer therapies. On global platform, oncology drug sales are rising 5% yearly and crossed $91 billion in 2013. The market of targeted therapies has surged to 46% from 11% in last ten years.
In last trading session, the stock price of Propanc Health Group Corp (OTCMKTS:PPCH) consolidated and closed at $0.0650. The gains of 0.15% came at a share volume of 4.20 million compared to average share volume of 14.25 million.