PYC Therapeutics (ASX:PYC) selected PYC-002 as the fourth drug candidate for its clinical trial program for Phelan-McDermid syndrome, a rare genetic disease characterized by a deficiency in a protein essential for neuron communication, according to a Monday filing with the Australian bourse.
The company's pre-clinical studies showed that PYC-002 reaches the key areas of the brain affected by the disease in animal models and restores deficient protein expression to normal levels, the filing said.
The company plans to advance PYC-002 into human trials, with first-in-human studies expected to start in the first half of 2026, the filing added.
Shares of the company tumbled almost 6% in recent Monday trade.
Price (AUD): $1.42, Change: $-0.09, Percent Change: -5.67%
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