Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Phase 3 · ActiveModality: small molecule (oral extended-release)
Aliases oral nalbuphine ER
Target kappa and mu opioid receptors
Partnerships Keenova Therapeutics plc: milestone payments on first Phase 3 completion and US marketing approval, plus royalties on net sales
Indications
IPF-related chronic cough(Phase 3)
Refractory chronic cough (RCC)(Phase 2)
Non-IPF ILD-related chronic cough(Stage not disclosed)
Catalysts
— H1 2028
— H2 2027 / Q3 2026
— H2 2027 / Q4 2026
— H2 2026 / H2 2027
Status note Lead and sole clinical candidate. Phase 3 OCEAN-1 (IPF cough, ~300 patients) initiated Q2 2026; Phase 3 OCEAN-2 (IPF cough, ~200 patients) planned Q3 2026; Phase 2b LAKE (RCC, ~100 patients) initiated Q2 2026. End-of-Phase 2 meeting with FDA completed.
Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.
Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
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