Alterity Therapeutics Shares Reverse Course, Hit 52-Week Low
September 20 2022 - 1:25PM
Dow Jones News
By Chris Wack
Alterity Therapeutics Ltd. shares reversed course Tuesday,
dropping 13% to 49 cents, after the company said it received
approval for its investigational new drug application by the Food
and Drug Administration to allow evaluation of ATH434 in
individuals with Multiple System Atrophy, a rare and highly
debilitating Parkinsonian disorder.
The stock was trading as much as 20% higher in premarket trade,
but hit its 52-week low of 40 cents a share in morning trading.
The company said the approval of this IND authorizes it to
conduct its Phase 2 clinical trial in the U.S.
The Phase 2 clinical trial will explore the effect of ATH434
treatment on neuroimaging and protein biomarkers. Clinical
endpoints will permit comprehensive assessment of ATH434 efficacy
along with characterization of safety and pharmacokinetics.
The study is expected to enroll 60 adult patients to receive one
of two dose levels of ATH434 or placebo. Patients will receive
treatment for 12 months, which will provide an opportunity to
detect changes in efficacy endpoints to optimize design of a
definitive Phase 3 study.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 20, 2022 13:10 ET (17:10 GMT)
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