Alterity Therapeutics Ltd (NASDAQ:ATHE) is the biggest gainer in the pre-market session after the company won a new patent.
Major Trigger:
Alterity Therapeutics : granted a new US patent targeting major neurodegenerative diseases including Alzheimer’s and Parkinson’s (Form 6-K)
Key Highlights:
- Alterity Therapeutics announced the granting of a new composition of matter patent by the United States Patent and Trademark Office (USPTO). The patent secures a broad monopoly over a new class of iron chaperones, a technology capable of redistributing excess iron in the central nervous system. The structural backbone depicted in the patent provides the foundation for small molecule drug candidates with potential to cross the blood brain barrier and directly attack a source of neuropathology.
- Excess iron in the brain is implicated in the pathology of many important neurodegenerative diseases, such as Alzheimer’s and Parkinson’s diseases 1.
- The patent, entitled ‘Compounds for and Methods of Treating Diseases’ (Application No. 16/818,641), was granted following expedited review by the USPTO. It covers more than 150 novel pharmaceutical compositions that are designed to redistribute the labile iron implicated in many neurodegenerative conditions.
- Alterity is on track to launch the Phase 2 trial of its lead clinical candidate ATH434 by the end of the calendar year. ATH434 is a small molecule drug being developed for Multiple System Atrophy (MSA), a form of atypical parkinsonism where iron plays a key role in pathogenesis by promoting α-synuclein aggregation. The scientific investigation of ATH434, along with the results from the Phase 2 study, will augment the development and optimization of novel compounds expected to emerge from the new patent.
Market Reaction
As of 7:35, ATHE stock soared 68% to $2.18. So far more than 101k shares have exchanged hands.
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