CervoMed Inc. (NASDAQ: CRVO) witnessed a notable rise in its share price during the extended trading session last Friday. Following a 3.95% increase during the regular session, which brought the stock to $16.32, CRVO saw an additional 7.23% climb, closing at $17.50. This surge was attributed to the company’s recent spotlight in a prominent publication.
CervoMed Got Recognition In Fortune Magazine
In an article titled “A New Hope for Dementia Treatment,” published in Fortune magazine, CervoMed was praised for its ground-breaking work in producing neflamapimod, which furthered the company’s momentum. For individuals with dementia and Lewy bodies, CRVO’s novel therapy has the potential to be revolutionary.
Since there are currently no recognized therapies for the more than 1.4 million people in the United States who suffer from DLB, CervoMed’s substantial contributions to the field of DLB research are further highlighted by this reputable platform’s acknowledgment.
CRVO Shared Promising Clinical Trial Results
CervoMed’s lead product, neflamapimod, has shown promising results in the Phase 2a AscenD-LB trial. The trial’s outcomes suggest that neflamapimod may not only slow the cognitive and motor decline associated with DLB but also partially restore these functions in patients. With these encouraging findings, CervoMed is eagerly anticipating the release of topline results from the Phase 2b RewinD-LB study in December 2024.
CervoMed Continued Advancements And Strategic Vision
Furthering its public engagement, CervoMed’s Dr. Alam was recently featured on the Biotech 2050 podcast, where he discussed the company’s ongoing scientific and strategic initiatives. The RewinD-LB study, a randomized, 16-week, double-blind, placebo-controlled clinical trial, is assessing oral neflamapimod in 159 patients with early-stage DLB. Excluding patients with advanced DLB, the study focuses on those in the early stages, aiming to evaluate the treatment’s efficacy through various clinical endpoints.
NIH-Funded Research and Future Prospects
The RewinD-LB study is supported by a $21.0 million grant from the National Institutes of Health’s National Institute on Aging. Spanning 43 sites across the United States, United Kingdom, and the Netherlands, the study completed enrollment in June 2024, with results eagerly awaited in December 2024.
