Is The Rally Real? Pharmather Holdings Ltd (OTCMKTS:PHRRF)

Pharmather Holdings Ltd (OTCMKTS:PHRRF) continued to move higher for the second consecutive session on Thursday.

Market Action

PHRRF stock surged over 26.30% to close at $0.28. More than 1.93 million shares traded hands for the session, well above its 30-day average volume of 189K shares. The stock opened at $0.2351 and moved within a range of $0.2152 – 0.2859 on Thursday.

PHRRF Issued News

Accomplished Clinical Researcher Matthew Macaluso Joins as Scientific and Clinical Advisor for PharmaTher’s Ketamine Programs

• PHRRF announced the appointment of Professor Matthew Macaluso, D.O. as a scientific and clinical advisor for PharmaTher’s clinical research programs involving ketamine as a potential treatment for major depressive disorders and amyotrophic lateral sclerosis (“ALS” or “Lou Gehrig’s Disease”).
• Matthew Macaluso, D.O. is an academic psychiatrist with over ten years of extensive clinical trial research experience involving novel drugs to treat those patients with refractory and often severe forms of depression that are not responsive to currently marketed drugs.
• He is the Bee McWane Reid Professor for the Department of Psychiatry and Behavioral Neurobiology in the School of Medicine at The University of Alabama at Birmingham (“UAB”).
• Professor Macaluso is also the Clinical Director of the UAB Depression and Suicide Center.
• He has been principal investigator on over 60 trials of novel investigational medications with a focus on treatment resistant major depression, including studies involving ketamine and esketamine.

Fabio Chianelli, CEO of PharmaTher commented: “We are excited to have Matt join us as a scientific and clinical advisor. Matt has extensive experience in conducting clinical studies involving depression, including being a principal investigator of clinical studies involving esketamine which led to an FDA approval. Professor Macaluso commented: “It is well known in the literature and clinical practice that ketamine has tremendous potential in various CNS and neurological disorders. I am intrigued by PharmaTher’s passion in pursuing ketamine in clinical trials that could offer hope to those who require a safe and effective treatment option that will ultimately improve their quality of life.