Axalbion is advancing AX-8, its lead TRPM8 agonist, as a targeted, locally acting therapy for refractory chronic cough (RCC). AX-8 combines high potency on human TRPM8 with sustained activity on throat epithelia, supporting topical delivery to sensory nerve termini involved in cough hypersensitivity. Proof-of-concept studies in animal models and patients support early efficacy and tolerability. Larger IND- and CTA-enabling programs for optimized drug-delivery formulations are planned to start in 2027.