Aisling Capital and OrbiMed Advisors See Value in This Canadian Pharmaceutical Company, Disclosing New Positions

Let’s take a look at Cynapsus Therapeutics Inc (NASDAQ:CYNA), a $197.4 million market cap specialty pharmaceutical company engaged in the development of a sublingual thin filmstrip for the acute rescue of OFF motor symptoms of Parkinson’s disease. OFF episodes are a complication of Parkinson’s disease that leave patients rigid and unable to move and communicate. Cynapsus Therapeutics Inc (NASDAQ:CYNA) is conducting the CTH-300 clinical trial, a pivotal phase 3 study to examine the efficacy, safety, and tolerability of APL-130277 for the acute treatment of OFF episodes in patients with Parkinson’s disease (PD). Last month, the company announced the enrollment of the first patient in the CTH-300 trial. The study objective is to evaluate the efficacy and safety of APL-130277 versus placebo in patients with PD. The 126 patients will each be observed for 12 weeks, with dosing at home and in clinic. The primary endpoint will be measured at week 12 in clinic and will be the mean change in the MDS-UPDRS Part III score at 30 minutes after dosing. The key secondary endpoint will be the percentage of patients who convert from the OFF to the ON state at or before 30 minutes of dosing with APL-130277 in clinic at the week 12 visit, Cynapsus said in a statement.

Cynapsus Therapeutics Inc (NASDAQ:CYNA) recently completed its underwritten public offering of 5.18 million common shares at a price of $14.00 apiece. The company’s stock currently trades at $16.17. The offering came just a month after the company’s U.S IPO. Prior to its listing on the NASDAQ, it traded on the Toronto Stock Exchange from late 2007.

Disclosure: none