Why Tiziana Life Sciences Stock (TLSA) Is Climbing

Tiziana Life Sciences, Ltd TLSA shares are trading higher Tuesday after the company announced that the FDA has cleared the Investigational New Drug (IND) application for intranasal foralumab to be studied in Alzheimer's disease.

The Details:

Tiziana has received FDA clearance to advance its intranasal foralumab preparation into Phase 2 human clinical trials which will be overseen by Brigham and Women's Hospital, a member of Mass General Brigham Healthcare System.

Gabriele Cerrone, CEO of Tiziana Life Sciences, stated, "The IND clearance is a significant milestone for Tiziana that highlights the strength and the therapeutic potential of foralumab. We are deeply committed to advancing the field of neurodegenerative diseases and bringing much-needed relief to patients suffering from Alzheimer's with a novel therapeutic approach."
Shares of TLSA are higher on very heavy trading volume. According to Benzinga Pro, more than 21.25 million shares have been traded in the session, compared to the stock's 100-day average of only 126,248 shares.

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TLSA Price Action: According to Benzinga Pro, Tiziana shares are up nearly 40% at 84 cents at the time of publication.

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