MI3 Market Alert: Developing novel therapeutics for the treatment of chronic cough
Mario Drolet President of MI3 Communications Financières Inc. (MI3) released a technical note at market open today on BELLUS Health Inc. (Nasdaq: BLU | TSX: BLU) for exclusive distribution on InvestorIntel. In this note, MI3 highlighted the following points on BELLUS Health Inc.
- BELLUS Health is developing BLU-5937, a P2X3 inhibitor, to help people with chronic cough and other afferent hypersensitization-related disorders.
- In September 2019, BELLUS Health completed an offering of its common shares resulting in gross proceeds to the Company of US$79.4 million and BELLUS Health’s common shares began trading on the Nasdaq
- Cash, cash equivalents and short-term investments totalling C$132.2 million (US$99.9 million)
- Only 54M shares outstanding
- RSI at 41… Well position
- Support: S2; $7.45 S1; $8.06 Resistance: R1; $ 8.14 – R2; $8.50 – R3; $8.99
About BELLUS Health
BELLUS Health is a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of chronic cough and other hypersensitization-related disorders. The Company’s product candidate, BLU-5937, is being developed for the treatment of chronic cough and chronic pruritus.
Chronic cough is a cough lasting more than eight weeks and is associated with significant adverse physical, social and psychosocial effects on health and quality of life. It is estimated that approximately 26 million adults in the United States suffer from chronic cough with more than 2.6 million having refractory chronic cough lasting for more than a year. There is no specific therapy approved for refractory chronic cough and treatment options are limited.
Chronic pruritus, commonly known as chronic itch, is an irritating sensation that leads to scratching, and persists for longer than six weeks, which can be debilitating and has a significant impact on quality-of-life. It is a hallmark of many conditions, including AD. It is estimated that chronic pruritus associated with AD affects more than 16.9 million adults in the United States.
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Disclaimer: This MI3 Technical Note produced by MI³ Communications Financières is neither an offer to sell, nor the solicitation of an offer to buy any of the securities discussed therein. The information contained is prepared by MI3, emanating from sources deemed to be reliable. MI3 Communications Financières makes no representations or warranties with respect to the accuracy, correctness or completeness of such information. MI³ Communications Financières accepts no liability whatsoever for any loss arising from the use of the information contained therein. Please take note that for compliance purposes, all directors, consultants or employees of MI3 Communications Financières are prohibited from trading the securities of the company and MI3 Communications Financières is a shareholder and do not intend to sell any shares during the distribution of this note.
Mario has over 25 years in financial market and he is passionate about Finance. He worked on the floor of the Montreal Exchange on his ... <Read more about Mario Drolet>