Island Pharmaceuticals Nears Key Milestone in Dengue Trial, Boosts Cash by $1.94m
Island Pharmaceuticals has completed dosing in the Phase 2b cohort of its dengue fever trial, with pharmacokinetic targets met and top-line results expected next month. The company also strengthened its balance sheet by raising $1.94 million through option exercises.
- Phase 2b dosing completed with target blood levels achieved
- Top-line efficacy data for Phase 2a/b cohorts due by end of May 2025
- Raised $1.94 million from exercise of listed options
- Advancing acquisition talks for broad-spectrum antiviral Galidesivir
- Expanded role for Non-Executive Director Chris Ntoumenopoulos
Progress in Dengue Fever Clinical Trial
Island Pharmaceuticals Limited (ASX: ILA) has marked a significant step forward in its development of ISLA-101, an antiviral candidate targeting dengue fever. During the March 2025 quarter, the company completed patient enrolment and dosing for the Phase 2b therapeutic cohort of its PROTECT trial. This cohort investigates ISLA-101’s potential to reduce viral load and symptoms in individuals already infected with dengue virus.
Following a positive safety and anti-dengue activity assessment from the Phase 2a prophylactic cohort, the Safety Review Committee approved progression to Phase 2b. Island successfully dosed all ten participants on schedule, with no delays reported. Post-quarter-end pharmacokinetic data confirmed that target blood concentrations of ISLA-101 were achieved across all subjects, a critical milestone that supports the drug’s therapeutic viability.
Anticipation Builds for Top-Line Results
The company is now awaiting viral load data from both Phase 2a and 2b cohorts, expected imminently. Island plans to lock the study database shortly thereafter, with unblinded top-line results anticipated before the end of May 2025. Notably, Island has opted against an interim data readout to preserve statistical integrity and maintain positive regulatory engagement, a strategic move that underscores its commitment to robust clinical standards.
Financial Strengthening and Strategic Expansion
Island’s financial position was bolstered by $1.94 million raised through the exercise of 32.3 million listed options, lifting cash reserves to $4.82 million at quarter-end. These funds are earmarked to support ongoing clinical development activities for ISLA-101.
Beyond its dengue program, Island is actively pursuing pipeline expansion through the potential acquisition of Galidesivir, a broad-spectrum antiviral molecule currently in clinical stages. Galidesivir has demonstrated activity against over 20 RNA viruses, including high-profile pathogens such as Ebola and SARS-CoV-2. Island executed a binding Letter of Intent with BioCryst Pharmaceuticals to acquire this asset and continues due diligence efforts.
Corporate Developments and Investor Engagement
In a move to enhance corporate and market engagement, Island expanded the role of Non-Executive Director Chris Ntoumenopoulos through a consulting agreement. Mr. Ntoumenopoulos will focus on business development, corporate finance, and investor relations initiatives, leveraging his financial markets expertise to unlock shareholder value.
Throughout the quarter, Island’s management participated in key investor conferences across San Francisco, Singapore, and Hong Kong, alongside domestic investor meetings. These activities aim to raise the company’s profile ahead of the pivotal Phase 2a/b data release.
Bottom Line?
With Phase 2b dosing complete and top-line data imminent, Island Pharmaceuticals stands at a critical inflection point that could redefine its clinical and commercial trajectory.
Questions in the middle?
- Will the Phase 2a/b trial data confirm ISLA-101’s efficacy in reducing dengue viral load and symptoms?
- How will the potential acquisition of Galidesivir reshape Island’s antiviral pipeline and valuation?
- What impact will the expanded role of Chris Ntoumenopoulos have on Island’s strategic partnerships and capital raising?
