What's Going On With Alterity Therapeutics Shares Thursday?

Alterity Therapeutics Limited ATHE shares are moving higher on Thursday after the company reported topline results from its Phase 2 clinical trial of ATH434 in early-stage multiple system atrophy (MSA). ATH434 demonstrated clinically meaningful results in slowing early-stage multiple system atrophy and showed a favorable safety profile.

There is currently no FDA-approved, disease altering treatment for MSA.

The trial enrolled 77 adults with early-stage MSA across 23 sites in six countries, and participants were randomly assigned to receive either 50mg or 75mg of ATH434, or a placebo, twice daily for 12 months. Results showed that the 50 mg dose demonstrated a 48% slowing of clinical progression, while the 75 mg dose exhibited a 29% slowing by week 52.

“We are thrilled that ATH434 has demonstrated significant slowing of clinical progression and an excellent safety profile in this rare, rapidly progressive disease,” said David Stamler, CEO of Alterity.

“Based on the strength of these Phase 2 data, we look forward to engaging with the FDA as quickly as possible to discuss the path forward for accelerating the development of ATH434 given the tremendous unmet need for treating MSA.”

Alterity stock is currently trading on above average session volume at 14.96 million shares. The company’s average session volume over the past 100 days is 71.90 thousand.

Related Link: Surmodics Earnings Analysis: Q1 Recap

ATHE Price Action: At the time of writing Alterity stock is trading 43.3% higher at $4.17, according to data from Benzinga Pro.

Image: via Shutterstock