Neurofibromatosis Treatment Market Value Expected to Reach $27 Billion By End Of 2029

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., June 1, 2023 /PRNewswire/ -- Neurofibromatosis is a genetic condition that disrupts the cell growth in your nervous system, causing formation of tumors on nerve tissue. These formed tumors may develop anywhere in the nervous system of the victim, which may include the brain, spinal cord and nerves. Neurofibromatosis is usually diagnosed in childhood or early adulthood. The tumors are noncancerous (benign) in most of the cases, but in some cases these tumors become cancerous (malignant) tumors.  People suffering with neurofibromatosis often experience only mild symptom and effects may range from hearing loss, learning impairment, and heart and blood vessel (cardiovascular) complications to severe disability due to nerve compression by tumors, loss of vision and severe pain. There is no specific treatment for neurofibromatosis, but treatment aims to maximize healthy growth and development and to manage complications as soon as they arise. When neurofibromatosis causes large tumors or tumors that press on a nerve, surgery may help ease symptoms.  A report from Coherent Market Insights projects that the global neurofibromatosis treatment drugs market is expected to exhibit a CAGR of 13.40% through 2027). It said that Increasing focus of major players on research and development of novel therapies for treating neurofibromatosis. Moreover, clinical studies are well supported by regulatory authorities which is expected to drive the growth of the global neurofibromatosis treatment drugs market.   Active Biotechs in the markets today include:  Pasithea Therapeutics Corp. (NASDAQ: KTTA), SpringWorks Therapeutics, Inc. (NASDAQ: SWTX), Day One Biopharmaceuticals (NASDAQ: DAWN), Verastem Oncology, (NASDAQ: VSTM), Kinnate Biopharma Inc. (NASDAQ: KNTE).

Another report from Maximize Market Research projects that the Neurofibromatosis Treatment Market value is projected to reach US$ 27.06 Bn at the end of the forecast period (2029) and it is expected to grow at the CAGR of 13.3%.  The report. Added: "Ongoing development of novel therapies for treating neurofibromatosis drives the market growth.  Increasing R&D activities and focus of major players for the development of novel therapies for treatment is expected to drive the market. Also, the dynamics of the neurofibromatosis market is expected to change during forecast period owing to the improvement in the diagnosis methodologies, increasing awareness of the disease, rise in healthcare expenditure will also contribute to stimulate the market growth."

Pasithea Therapeutics Corp. (NASDAQ: KTTA) Breaking News: Pasithea Therapeutics Abstract Accepted for Poster Presentation at 2023 Neurofibromatosis Conference -- Preclinical data of PAS-004 in Plexiform Neurofibroma to be Featured --- Pasithea Therapeutics Corp. ("Pasithea" or the "Company"), a biotechnology company focused on the discovery, research, and development of innovative treatments for Central Nervous System (CNS) disorders, today announced that the Company's pre-clinical results for its lead drug candidate, PAS-004, have been accepted for a poster presentation at the 2023 Neurofibromatosis (NF) Conference taking place June 24-27, 2023, in Scottsdale, Arizona.

"We are extremely pleased to be presenting data from PAS-004 preclinical development plan, conducted in collaboration with Dr. Wade Clapp at Indiana University, School of Medicine" commented Dr. Graeme Currie, Pasithea's Chief Development Officer. "The presentation will provide insight into PAS-004 efficacy and support further development of our lead candidate."

Findings will be shared on a poster entitled "Evaluation of the Effects of a Novel MEK inhibitor PAS-004 in Plexiform Neurofibroma in a Pre-clinical Mouse Model of Neurofibromatosis Type 1". Poster will be available to view during the 2023 NF Conference on the evening of Sunday, June 25th, from 5:00pm - 7:00pm.  CONTINUED…  Read the Pasithea Therapeutics full press release by going to:  https://ir.pasithea.com/

In other biotech news in the markets this week: 

Day One Biopharmaceuticals (NASDAQ: DAWN), a clinical-stage biopharmaceutical company dedicated to developing and commercializing targeted therapies for people of all ages with life-threatening diseases, recently announced the publication of three abstracts on the American Society of Clinical Oncology (ASCO) website.

Dr. Lindsay Kilburn of Children's National Hospital will present new and updated clinical data from the registrational FIREFLY-1 trial on June 4, 2023 during an oral session from 10:57 - 11:09 a.m. CT at the ASCO Annual Meeting. The presentation will include updated overall response rate, duration of response, and safety data, including evaluations by RANO-HGG, RAPNO-LGG and RANO-LGG criteria. Previously released data as of September 28, 2022 is reflected in the abstract published today. The presentation will be available on the Day One investor website shortly after the live presentation, with a conference call and webcast to follow later that evening.

SpringWorks Therapeutics, Inc. (NASDAQ: SWTX), a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, recently announced that it has achieved full enrollment in its Phase 2 trial evaluating nirogacestat, an investigational gamma secretase inhibitor, as a monotherapy in patients with recurrent ovarian granulosa cell tumors (OvGCT). SpringWorks expects to report initial data from the trial in 2024.

OvGCT account for approximately 5% of all ovarian cancers and are the most common subtype of ovarian sex cord tumors, representing 70% of all cases. Nearly all OvGCT harbor a mutation in the FOXL2 gene and preclinical studies have demonstrated that OvGCT cell lines are susceptible to gamma secretase inhibition.

Verastem Oncology, (NASDAQ: VSTM), a biopharmaceutical company committed to advancing new medicines for patients with cancer, recently announced that an abstract highlighting updated interim results from Part A of the ongoing Phase 2, registration-directed RAMP 201 trial evaluating avutometinib (VS-6766) and defactinib in patients with low-grade serous ovarian cancer (LGSOC) has been selected for a presentation in a Poster Discussion Session at the upcoming American Society of Clinical Oncology (ASCO) Annual Meeting taking place June 2–6, 2023 in Chicago, IL.

The objective of Part A (selection Phase) of the RAMP201 LGSOC study was to determine the go forward regimen between avutometinib monotherapy or the combination of avutometinib and defactinib to be studied in Part B (expansion Phase) of the study. The efficacy and safety of each regimen were assessed in both KRAS mutant and KRAS wild-type recurrent LGSOC. The ongoing expansion Phase of the trial, which is fully enrolled, will evaluate the efficacy and safety of the regimen selected.

Kinnate Biopharma Inc. (NASDAQ: KNTE), a clinical-stage precision oncology company, recently announced the addition of two new internally developed next generation development candidates to its targeted oncology pipeline – a brain penetrant mitogen-activated protein kinase (MEK) inhibitor and a highly selective mesenchymal-epithelial transition factor gene (c-MET) inhibitor.  The company also announced that it had approximately $231 million of cash, cash equivalents and investments as of March 31, 2023, which is anticipated to fund planned operations into early 2025.

"We are proud of our growing portfolio of precision oncology programs comprised of highly selective therapeutics with optimized drug properties designed to address broad alteration coverage, resistance mechanisms and now brain penetrance," said Robert Kania, Ph.D., senior vice president, drug discovery, Kinnate Biopharma Inc. "The addition of Kinnate's next generation MEK and c-MET research programs to our development pipeline illustrates the productivity of our capability-based discovery engine, which is delivering on our goal of bringing forward one new IND a year. Targeted therapies have tremendous potential to help patients, but only about ten percent of patients with advanced or metastatic cancer are eligible for currently approved targeted therapies. We look forward to continued progress powered by our Kinnate Discovery Engine and the impact we can have on the lives of those battling cancer."

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM was compensated twenty five hundred dollars for news coverage of current press release issued by:  Pasithea Therapeutics Corp. by a non-affiliated third party.   

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:
Media Contact email: [email protected] - +1(561)325-8757

SOURCE Financialnewsmedia.com