Centessa Pharmaceuticals Advances Neurological Drug ORX142 to Clinical Trials

Centessa Pharmaceuticals (NASDAQ:CNTA) is one of the best low priced pharma stocks to buy now. On July 4, Nxera Pharma Co. Ltd., which develops and sells pharmaceutical products, announced that it is set to receive $4.8 million in milestone payments from Centessa Pharmaceuticals. These payments stem from their existing research collaboration and followed Centessa’s initiation of clinical development for ORX142, which is a novel orexin receptor 2 (OX2R) agonist.

The initiation follows the recent clearance of an Investigational New Drug/IND application by the US FDA for a Phase 1 clinical study of ORX142 in healthy volunteers. ORX142 is an investigational, highly potent, and selective OX2R agonist being developed by Centessa for the treatment of specific neurological and neurodegenerative disorders.

OX2R agonists are a class of compounds designed to activate orexin receptors, which play a role in regulating wakefulness, arousal, and stabilizing sleep-wake transitions. IND clearance by the FDA grants authorization to administer an investigational drug to humans in a clinical study, which allows for the collection of safety and effectiveness data.

Centessa Pharmaceuticals (NASDAQ:CNTA) is a clinical-stage pharmaceutical company that discovers, develops, and delivers medicines.

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Disclosure: None. This article is originally published at Insider Monkey.