US-listed shares in Alterity Therapeutics (NASDAQ:ATHE) have soared post and premarket after the company reported positive data from animal testing of its leading drug candidate for Multiple System Atrophy…
The company stated that the drug, ATH434, has been selected for presentation at the 2020 International Congress of Parkinson’s Disease and Movement Disorders, as well as the American Neurological Association’s 2020 Annual Meeting.
“New data independently confirms and extends laboratory findings and expands safety profile of ATH434,” said Alterity in its statement.
Interested in investing after today’s move?
XTB gives investors access to thousands of UK and international stocks,
including fractional shares from just £1.
Explore stocks with XTB →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Want to invest in the stocks making the news?
Go from following the market to investing in it, with access to thousands
of stocks across major UK and international markets.
See available stocks →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Own the stocks you’re reading about
Invest in real shares across the UK, US and other major global markets
through XTB, all from one investment account.
Explore XTB shares →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
You don’t need to buy a whole share
Fractional shares let you invest from just £1, giving you more control
over how much you put into individual companies.
Explore fractional shares →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
Want to see how XTB works first?
Explore the platform with an XTB demo account before deciding whether
you want to invest with real money.
Try the XTB demo →
Your capital is at risk. The value of your investments may go up or down. Past performance is not a reliable indicator of future performance.
After the announcement, shares in the company skyrocketed and are currently trading at $5.21 premarket, after a 285.93% move higher, taking it to levels not seen since September 2016.
The company’s share price has fallen significantly in the last five years and its no surprise given its lack of profitability.
“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,” said Alterity’s Chief Medical Officer, Dr David Stamler.
Alterity will also present cardiac safety data from its phase one study of ATH424, which will be the first time this type of information is shared amongst international physicians and researchers in neurological disorders.
