Dimerix
(ASX:DXB) Share Price and News

About Dimerix Ltd

Dimerix is a clinical-stage biopharmaceutical company listed in the Australian Securities Exchange. It was founded in the year 2013 with a focus on developing new treatments for serious and long-term inflammatory diseases.

Its main drug, DMX-200, is an oral anti-inflammatory drug called repagermanium, ingested orally twice daily. DMX-200 blocks the chemokine receptor 2 (CCR2) pathway, which stops immune cells from moving to areas of the body such as in the kidney where they cause abnormal scarring.

DMX-200 is in Phase 3 for FSGS which is a kidney disease that attacks the kidney’s filtering units where the blood is cleaned (called the glomeruli), causing irreversible scarring and leading to permanent kidney damage and eventual end-stage kidney failure, requiring dialysis or a replacement.

History of Dimerix Ltd (ASX: DXB)

Dimerix was incorporate in 2004 and listed in 2015 via the reverse takeover of Sun Biomedical. The company's original technology came out of work conducted by Dimerix using laboratories at the University of WA. By this time, DMX-200 was firmly in the pipeline, but the company was focused on its board Receptor-HIT platform from which DMX-200 was derived, and it wasn't 100% clear which indication it would be developed for.

DMX initiated a Phase 2a study in 2014 and completed it in 2017. This recruited patients with any Chronic Kidney Disease. This study achieved successful results with 25% of patients recording a >50% reduction in proteinuria (elevated protein in the urine) and a 35% reduction on average. These results may not appear earth shattering for clinical trials, but they are for kidney disease in general, particularly when it is severe.

Dimerix conducted a sub-group analysis and found the patients with the largest reduction tended to have Diabetic Kidney Disease (DKD). And so it progressed into DKD and FSGS, with the logic being a reduction in proteinuria would indicate a slowing in disease progression for both. Dimerix ran 2 more Phase 2 studies from 2018 to 2020 and these showed FSGS was the better lead indication. And so it is currently in a Phase 3 clinical trial (ACTION3).

Future Outlook of Dimerix Ltd (ASX: DXB)

The future success of Dimerix, going forward, would then depend profoundly on the results of the ACTION3 trial.

If successful in this study, the company is expected to gain approval in the US and EU. ACTION3 is currently being conducted at over 70 clinical sites in 11 countries including Australia, New Zealand, Taiwan, Hong Kong, France, Denmark, the UK, Spain, Argentina, Brazil, and the US. New clinical sites have also been planned for China, Malaysia, Italy, Germany, Portugal, and Mexico to enhance the recruitment process further.

Results are expected in the middle of 2025 and failure would be a setback for the company. However, success would mean likely commercialisation given DMX-200 has Orphan Drug Status and can likely gain approval with this trial. Interim analysis to date has indicated positive results.

Moreover, the company has 2 licensing deals for DMX-200's commercialisation. With Advanz Pharma for UK, EU, Switzerland, Canada and New Zealand; and with Taiba for the Middle East. It is yet to license out the USA and China which could be the biggest markets.

Is Dimerix (ASX:DXB) a good stock to buy?

Dimerix represents a high-risk, high-reward investment proposition common among clinical-stage biopharma companies. It would, therefore, be rather appealing, even to avid investor risk appetites, with a good drug pipeline and considering the potential market impact its lead candidate, DMX-200, at Phase 3 of trials, could make. If the results of this trial turn out positive, the stock could increase considerably. But if they turn negative, you need only look at the recent example of Opthea.

In short, Dimerix may prove a good buy for those prepared to take on the uncertainty against the promise of high growth, but not for more conservative investors.

Our Stock Analysis

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Frequently Asked Questions

Dimerix is a clinical-stage biopharmaceutical company focused on the development of novel therapies for serious and chronic inflammatory diseases using its proprietary Receptor-HIT platform to identify GPCR-targeting drug combinations.