Alzamend Neuro, Inc (NASDAQ: ALZN) stock price saw a steep rise today off the back of a positive response from the FDA for the development of AL002, a cell-based therapeutic vaccine that aims to bolster the immune system in the face of Alzheimer’s disease.
Alzamend, a clinical-stage biopharmaceutical company, are specialists in the treatment of neurodegeneration and psychiatric disorders. Stock prices soared in mid-market trading today after a public announcement that the company received a written reply to its meeting request regarding the movement of AL002.
CEO of Alzamend Stephan Jackman is thoroughly pleased with the progress of the new Alzheimer’s treatment:
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“We appreciate the thorough and meaningful response from the FDA, which provides us with the information and clarity needed to submit the IND application to initiate a clinical trial for AL002.”
Following with:
“We appreciate the FDA’s recommendations, guidance and other helpful advice. We plan to augment our proposed clinical trial protocols and proceed accordingly.”
With clinical trials on the horizon, this is a promising time for Alzamend, it’s investors, and Alzheimers sufferers alike. Alzamend hopes to file the necessary IND by the end of November 2021, paving a clear route for clinical trials in the first quarter of 2022.
The progress of the cell-based therapeutic vaccine made an impressive impact on the market today, with gains reaching highs of 35% and the price currently teetering over the $3 level.
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