Alterity Therapeutics Ltd (NASDAQ: ATHE) is running for the top in the market this morning, trading on gains that are better stated in multiples than in percentages. The gains come after the company announced positive data from its lead drug candidate. Here’s what’s going on:
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
ATHE Stock Climbs On Data
In the press release, Alterity Therapeutics announced data from its lead drug candidate, ATH434. Importantly, this data has been selected for presentation at the 2020 International Congress of Parkinson’s Disease and Movement Disorders as well as the American Neurolotical Association’s 2020 Annual Meeting.
ATHE said that new animal data will be presented at ANA 2020. The new data comes from an experiment testing ATH434 in an animal model of Multiple System Atrophy (MSA).
These data independently confirm and exted previous findings demonstrating that ATH434 reduces a-synuclein pathology, preserves neurons, and improves motor performance.
In a statement, Dr. David Stamler, CMO at ATHE, had the following to offer:
Drug-induced QT prolongation can pose a significant risk for patients, so a clean bill of health on this safety measure is important as we advance to Phase 2. In searching for new treatments to modify disease progression, we need to develop agents that are as safe as possible.
This News Is Overwhelmingly Positive
The news released this morning proved to be ovewhelmingly positive. The new data suggests that the company is on the right track with ATH434. Importantly, this data being selected for demonstration at two key medical conferences will do a lot for the company.
First and foremost, it will give the company a stage on which to display this data to institutional investors, likely driving investor interest. Furthermore, these presentations will likely open the door to potential partnerships.
All in all, ATHE is a stock to watch.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
Don’t Miss The Next Big Story
Join our free mailing list below to receive real-time news alerts!