Healthcare products maker Pharmaxis Ltd (ASX:PXS) says it has completed its phase 2 dose-profiling study with its anti-inflammatory drug, ASM8, in patients with allergic asthma.

The company says the drug was found to be safe at all doses tested and particularly effective at an inhaled dose of 8 milligrams a day.

CEO Alan Robertson says he is encouraged by the results, which demonstrate the potential value of the drug for treating asthma.

Mr Robertson says the allergic asthma market is currently under-served by current therapies and presents a significant commercial opportunity for the company.

ASM8 was the leading clinical-stage asset in the portfolio of drug candidates Pharmaxis acquired in its recent takeover of Canadian company, Topigen Pharmaceuticals.

The trial involving 12 asthma sufferers was designed to determine the safety of ASM8 at a range of doses.

Pharmaxis booked a loss of $35.17 million for fiscal 2009.