Neuren Pharmaceuticals (ASX: NEU) announced the launch of an on-market share buy-back program of up to AU$ 50 million, marking a strategic move that underscores its commitment to maximizing shareholder value. This decision follows impressive developments from the licensee, Acadia Pharmaceuticals, which recently sold its Rare Pediatric Disease Priority Review Voucher for a remarkable US$150 million. This transaction positions Neuren to receive one-third of the proceeds, reflecting the strategic partnership's potential.
Moreover, Acadia's outstanding net sales of DAYBUE, reaching US$91 million in Q3 2024, further strengthen Neuren's financial standing. With a strong and growing cash flow from DAYBUE, the board is strategically poised to invest up to AU$ 50 million in share buy-backs at this reasonable time. Over the next year, it will continually evaluate market conditions, share prices, and operational performance to identify the best investment opportunities. This diligent approach will maximize value for its shareholders while allowing it to remain flexible in adjusting, suspending, or concluding the buy-back program as necessary.
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