Bionomics Limited announced positive pharmacokinetic (PK) results from a 7- day dosing study in healthy volunteers using the newly developed solid dose oral tablet formulation of BNC210. BNC210 is a novel, negative allosteric modulator of the alpha 7 nicotinic acetylcholine receptor in development for the treatment of anxiety and stressor-related disorders, and in November 2019 was granted Fast Track designation by the US Food and Drug Administration (FDA) for the treatment of Post-Traumatic Stress Disorder (PTSD). The 7-day dosing PK study in ten healthy volunteers (females and males) demonstrated that at a dose of 900 mg given twice daily, the tablet formulation of BNC210 had steady-state 12-hourly exposure levels ranging from 33-57 mg.h/L which exceed the 12-hourly blood exposure of 25 mg.h/L predicted as necessary to meet the primary endpoints for effectiveness for treating PTSD patients in future clinical trials. A pharmacometric analysis of data from the first Phase 2 PTSD trial (RESTORE) that read out in October 2018, modelled an exposure-response relationship between BNC210 blood levels and CAPS-5 scores (the primary endpoint measure in PTSD trials), and the potential for BNC210 to treat PTSD symptoms provided that adequate blood exposure could be achieved. The tablet formulation of BNC210 replaces the liquid suspension formulation used in RESTORE which did not provide sufficient blood exposure for efficacy in that Study. The BNC210 tablet will be easier for the PTSD trial participants to administer and, unlike the liquid suspension formulation, is not dependent on food intake for maximal absorption and is therefore expected to result in substantially less variable exposure in the patients in the next Phase 2b PTSD study. Furthermore, the recent PK results show that there is no gender-based difference in exposure and that BNC210 continues to be well-tolerated, even at the higher exposure levels achieved after 7 days of dosing in the healthy volunteers.