Nu-3 Gel Clears Preclinical Safety Hurdle, Phase 2a Trial Doses Set
LABT sits 28% above its 52-week low of $2.1 on light trading volume (0.3× avg).
Summary
Lakewood-Amedex reported positive preclinical safety data for its Nu-3 gel, a topical antimicrobial for infected diabetic foot ulcers. The FDA-required study showed the gel was well-tolerated, did not inhibit wound healing, and had low systemic exposure, supporting dose selection of 2%, 5%, and 10% for the upcoming Phase 2a trial. This follows a series of positive data readouts for Nu-3 and a recent reverse stock split to maintain Nasdaq compliance. With a market cap of only $4.5M and a going concern warning, the company needs clinical progress to attract funding. The Phase 2a trial initiation is the next key milestone.
At the time of this announcement, LABT was trading at $2.69 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $4.5M. The 52-week trading range was $2.10 to $98.20. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.