Alterity Therapeutics Limited (ATHE) stock was down -8.00 percent at $1.62 at the last check in pre-market trading. ATHE stock closed Friday session at $1.75, down -18.22% or $0.39. Price of Alterity stock ranged between $1.59 and $1.89. A total of 22.72 million securities were exchanged, a volume greater than ATHE’s YTD volume of 3.29 million and above its 50-day daily volume of 5.76 million.
The ATHE stock has gained 204.37% in the past 12 months, and it has gained 28.67% in the last week. ATHE stock has gained 30.60% over the last six months and has gained 20.69% over the last three months. After gaining on last Thursday for grant of a new patent, ATHE stock has been consolidating.
ATHE was granted a patent, what was it?
ATH434, an early candidate from Alterity, is the first of a new generation of small molecules designed to suppress the formation of pathological proteins that result in neurodegeneration. As ATH434 decreases abnormal brain iron imbalance by preventing the abnormal accumulation of α-synuclein in animal models of disease, it can reduce symptoms of Parkinson’s disease. ATHE’s lead candidate is therefore well suited for treating Parkinson’s disease as well as atypical Parkinsonisms like Multiple System Atrophy (MSA). ATHE has been granted Orphan designation by the US FDA and the European Commission for ATH434 to treat MSA.
On Thursday, Alterity announced that the United States Patent and Trademark (USPTO) had awarded it a composition of matter patent.
- ATHE has patented a technology that reroutes excess iron in the nervous system through a new class of iron chaperones, a technology developed by the company.
- ATHE’s patent illustrates the structure of a small molecule drug candidate that is capable of crossing the blood brain barrier and directly attacking the source of neuropathology.
- Several important neurodegenerative diseases, including Alzheimer’s and Parkinson’s, have been linked to excess iron in the brain.
- The USPTO granted the patent, entitled “Compounds for and Methods of Treating Diseases,” following expedited review.
- More than 150 novel pharmaceutical substances are covered that redistribute labile iron, which is implicated in many neurodegenerative disorders.
ATHE’s further plans:
Alterity (ATHE ) expects to start the Phase 2 early next year with its lead clinical candidate ATH434. An experimental small molecule drug called ATH434 is being developed to treat Multiple System Atrophy (MSA), an atypical form of Parkinson’s disease in which iron promotes α-synuclein aggregation.
In tandem with ATHE’s Phase 2 study results, scientific investigation of ATH434 will enhance the development and optimization of new compounds from the new patent. ATHE will be well-positioned to develop and commercialize drugs for significant neurodegenerative diseases as a result of the patent.
