Insights

Why the Dimerix (ASX:DXB) share price is rocketing higher

The Dimerix Limited (ASX: DXB) share price has shot higher on Friday morning after an update on its COVID-19 European trial.
The post Why the Dimerix (ASX:DXB) share price is rocketing higher appeared first on The Motley Fool Australia. –

A drawing of a white rocket streaking up, indicating a surging share pirce movement

The Dimerix Ltd (ASX: DXB) share price has shot 6% higher to start the day after an update from the drug discovery company.

Why is the Dimerix share price surging higher?

Dimerix provided an update on its Phase 3 ACE2 renin angiotensin system (RAS) modulation study domain in Europe. The first 24 patients have been recruited into the study in patients with COVID-19 pneumonia, which incorporates DMX-200. DMX-200 is Dimerix’s chemokine receptor (CCR2) blocker that has been included in the global COVID-19 trial. 

The Dimerix share price has rocketed higher on the news with 22 patients from the Netherlands and 2 in the UK. Patients receive one of three randomly assigned interventions or a control as part of the study.

It comes as the World Health Organisation (WHO) has recorded 5.2 million new cases of COVID-19 in the last 7 days. That’s the most cases in a week since the beginning of the pandemic with both case numbers and deaths increasing in recent weeks.

The Dimerix feasibility/Phase 3 study is a “multi-centre, randomised, standard of care vs multi-active comparators platform study in patients with COVID-19”. The three RAS blockade strategies are:

  • Angiotensin receptor blocker (ARB)
  • ARB in combination with DMX-200
  • Angiotensin converting enzyme (ACE) inhibitor
  • No RAS inhibitor (no placebo)

How have the company’s shares performed?

The Dimerix share price rocketed higher on the news this morning before paring back some gains throughout the morning. Shares in the Aussie biotech company have been volatile in the last year or so.

In fact, the ASX biotech share plunged 63% lower in just one day, back in September 2020. That came after the company reported results from its phase 2 study of DMX-200 in patients with diabetic kidney disease. The study showed no statistically significant difference across the cohort between those receiving DMX-200 and the placebo treatment.

However, the Dimerix share price has gained 8.3% so far in 2021 including today’s early gains.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Dimerix (ASX:DXB) share price is rocketing higher appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!