Alterity Therapeutics Shares Surge As Company Says Animal Testing Data Positive For MSA Drug

Alterity Therapeutics Shares Surge As Company Says Animal Testing Data Positive For MSA Drug

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The shares of Alterity Therapeutics Ltd. (NASDAQ: ATHE) advanced in the after-hours session trading in New York on Monday and in the regular session in Sydney on Tuesday.” data-reactid=”19″>The shares of Alterity Therapeutics Ltd. (NASDAQ: ATHE) advanced in the after-hours session trading in New York on Monday and in the regular session in Sydney on Tuesday.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What Happened: The surge came as Alterity Therapeutics reported positive data from an animal testing of ATH434 — its leading drug candidate for Multiple System Atrophy, a Parkinsonian disorder.” data-reactid=”20″>What Happened: The surge came as Alterity Therapeutics reported positive data from an animal testing of ATH434 — its leading drug candidate for Multiple System Atrophy, a Parkinsonian disorder.

The new data “independently confirm and extend previous findings demonstrating that ATH434 reduces α-synuclein pathology, preserves neurons, and improves motor performance,” Alterity Therapeutics noted.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Why It Matters: The Melbourne-based pharmaceutical company in June said it had reached an agreement with the United States Food and Drug Administration on the non-clinical investigations required to support the second phase of its clinical trial of ATH434.” data-reactid=”22″>Why It Matters: The Melbourne-based pharmaceutical company in June said it had reached an agreement with the United States Food and Drug Administration on the non-clinical investigations required to support the second phase of its clinical trial of ATH434.

The FDA had also agreed on the company’s design for the Phase 2 study, it claimed.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What’s Next: Alterity Therapeutics noted that the data from the latest study will be presented at the 2020 International Congress of Parkinson’s Disease and Movement Disorders in September and at the American Neurological Association’s 2020 Annual Meeting in October.” data-reactid=”28″>What’s Next: Alterity Therapeutics noted that the data from the latest study will be presented at the 2020 International Congress of Parkinson’s Disease and Movement Disorders in September and at the American Neurological Association’s 2020 Annual Meeting in October.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Price Action: The company’s shares closed 38.24% up at $0.034 in Sydney on Tuesday, with an intraday high of $0.041.” data-reactid=”29″>Price Action: The company’s shares closed 38.24% up at $0.034 in Sydney on Tuesday, with an intraday high of $0.041.

Alterity Therapeutics shares closed 10.37% higher at $1.49 in the after-hours session in New York on Monday.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See more from Benzinga” data-reactid=”31″>See more from Benzinga

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”36″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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