Alterity Therapeutics Limited (ATHE) is up 25.27% in premarket trading today to trade at $1.71. The shares of ATHE stock rose 2.63% to close at $1.37 on Tuesday. A total of 0.31 million shares of ATHE stock were traded on the day, compared to 5.58 million shares traded on average over the past three months. Alterity Therapeutics is rising despite the lack of current news but the company shared an update on its activities last week.
What has Alterity Therapeutics updated?
Alterity is a biotechnology company devoted to creating a future of hope for people who suffer from neurodegenerative diseases. ATHE’s lead drug, ATH434, is capable of treating a variety of Parkinsonian disorders. Additionally, ATHE offers a wide range of drug discovery platform that result in patentable chemicals that intercede against disease processes. ATHE is based in Melbourne, Australia, as well as San Francisco, California, the USA.
Last Friday, Alterity released an overview of the company’s operational activities for the quarter ended 30 June 2021 (Q4 FY21).
ATHE’s operational activities: Highlights of the update:
- Alterity Therapeutics continues to advance the preparations for its Phase 2 Clinical Trial of ATH434 in MSA in spite of COVID-19’s prevailing impact around the world.
- In late June, ATHE announced that the European Medicines Agency (EMA) provided guidance on key aspects of its Phase 2 clinical trial for the investigational drug ATH434 in the treatment of Multiple Sclerosis.
- The EMA’s formal support for ATHE’s intention to enroll early-stage MSA patients will enhance the design and viability of the study as there is no approved treatment for MSA.
- Alterity Therapeutics has also been approved by the EMA to use biomarkers to enhance the diagnosis of these patients before they enroll.
- ATHE can maximize the opportunity to demonstrate the disease-modifying potential of ATH434 by improving diagnostic accuracy and targeting early-stage patients.
- ATHE has made significant progress on its Natural History study of MSA being conducted at Vanderbilt University Medical Center as well as on preparation for the treatment study, which is on track to begin by the end of this calendar year.
- In the ATHE study, referred to as BioMUSE, the original enrollment goal was reached and additional sites are being added.
- Among ATHE’s preliminary findings is the fact that biomarkers can be assessed and patients characterized, and all of this is expected to reduce the risk of the Phase 2 trial.
ATHE’s development strategy:
The results of an independent study showed that ATH434 provided neuroprotection in a widely accepted animal model of MSA, further supporting Alterity Therapeutics’ development strategy and validating ATH434 as a biologic target. At the Australian Micro & Small Caps Conference, Alterity (ATHE) Chief Executive Officer, Dr David Stamler, presented a comprehensive overview of the company’s clinical development activities.
