Clinuvel Pharmaceuticals Ltd (ASX: CUV) shares are having a better day than most on Friday.
In morning trade, the ASX 300 stock is up 6% to $12.21.
Image source: Getty Images
Why is this ASX 300 stock storming higher?
Investors have been bidding the specialty pharmaceuticals company's shares higher today following the release of an update on its SCENESSE product.
This is the ASX 300 stock's lead therapy and the world's first systemic photoprotective drug for the prevention of phototoxicity (anaphylactoid reactions and burns) in adult patients with erythropoietic protoporphyria (EPP).
However, the company is looking to expand its use into other indications. One of those is vitiligo, which brings us to today's update.
What was announced?
According to the release, new patient cases demonstrating the efficacy of SCENESSE in vitiligo patients have been presented to the European Academy of Dermatology and Venereology (EADV) conference in Paris.
The three patients treated at a single reference hospital in La Reunion, France, all completed treatment in the ongoing CUV105 study, receiving seven SCENESSE implants and up to 40 narrowband ultraviolet B (NB-UVB) phototherapy sessions.
The good news is that all three patients, with Fitzpatrick skin types IV and V and long-standing disease, reported satisfaction with the therapy. One of the patients had previously been resistant to topical treatments, whereas another had previously experienced a relapse following partial treatment response. Importantly, no unexpected safety concerns were identified.
The ASX 300 stock's director of global clinical affairs, Dr Emilie Rodenburger, was pleased with the news. She said:
Vitiligo patients receiving SCENESSE treatment understand that temporary darkening of the entire skin surface is required to activate the pigment to reverse vitiligo. Most satisfying is to hear how patients are receiving benefit from treatment and the shared excitement from the treating physicians who may have – for the first time – a therapy that works for patients with extensive vitiligo. We look forward to learning the full study results in 2026.
This is promising news for the company and its shareholders. A recent presentation reveals that vitiligo represents an addressable market of US$490 million to $570 million for the company in just the United States. It said:
Based on data sources and a range of assumptions, CLINUVEL has provided an indicative model of the commercial roll out for vitiligo in the U.S.A., with expected revenues of US$490–570 million in the first two years of distribution.
Its global opportunity is even larger and worth an estimated US$4.5 billion according to the company.
