Why Alzamend Neuro Shares Are Surging Higher Today

Alzamend Neuro Inc ALZN is surging higher Thursday after the company announced it received a written response to its meeting request relating to its Type B Pre‑IND application from the FDA providing a path for Alzamend's planned clinical development of AL002.

AL002 is a patented method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine that seeks to restore the ability of a patient’s immunological system to combat Alzheimer’s.

“We appreciate the thorough and meaningful response from the FDA, which provides us with the information and clarity needed to submit the IND application to initiate a clinical trial for AL002,” said Stephan Jackman, CEO of Alzamend. 

Jackman continued, "Alzamend proposed, and the FDA agreed, to conduct a combined Phase 1/2 study. We appreciate the FDA’s recommendations, guidance and other helpful advice. We plan to augment our proposed clinical trial protocols and proceed accordingly.”

Alzamend said it expects to file the IND by the end of November.

Alzamend is an early clinical-stage biopharmaceutical company focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders.

ALZN Price Action: Alzamend has traded as high as $33.55 and as low as $2.27 over a 52-week period.

The stock was up 27.6% at $3.09 at time of publication.