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Pharmaxis shares present untapped value as the drug developer pursues a rare cancer therapy

In biotech circles, tackling a rare and difficult disease with few patients does not necessarily equate to targeting an unprofitable one.  In the case of fibrotic diseases specialist Pharmaxis (ASX: PXS), its proposed treatment for the rare blood cancer myelofibrosis presents a potential billion dollar-plus market, even though only about 15 in every 1 million