Ault Global Holdings Inc (NYSEAMERICAN:DPW) stock sees buying activities in the pre-market after the news. The stock has fallen over 3% over the past week.
Major Trigger:
Ault Global Holdings Announces That Alzamend Neuro Has Submitted an IND Application for AL001 for Dementia Related to Alzheimer’s Disease
Key Highlights:
- announced that Alzamend Neuro, Inc. (Nasdaq: ALZN) (“Alzamend”), a preclinical stage biopharmaceutical company focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders, submitted an investigational new drug (“IND”) application to the FDA for the initiation of a Phase 1 clinical study of AL001 on June 30, 2021.
- The Phase 1, first-in-human study, is designed for the purpose of determining potential clinically safe and appropriate AL001 dosing in future studies. AL001 is a lithium-based ionic cocrystal oral therapy for patients with dementia related to mild, moderate, and severe cognitive impairment associated with Alzheimer’s disease.
- Following completion of this initial study, Alzamend intends to initiate a Phase 1/2a clinical trial designed to evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary efficacy of AL001 in Alzheimer’s disease patients. Presuming favorable data, a subsequent Phase 2b program is planned to target appropriate doses for the pivotal Phase 3 safety/efficacy clinical program required for regulatory approval.
Key Quote:
“This IND submission represents a key milestone for Alzamend as we continue to advance our proprietary pipeline. We believe AL001 could potentially provide clinicians with a major improvement over current lithium-based treatments and may constitute a means of treating Alzheimer’s disease and other neurodegenerative diseases and psychiatric disorders. We look forward to providing more details on the timeline and market opportunity following FDA clearance of the IND, if obtained,” commented Stephan Jackman, Chief Executive Officer of Alzamend.
Market Reaction
As of 7:32, DPW stock jumped by 3% to $2.91. So far more than 82k shares have exchanged hands.
 Stock a Good Buy After The Recent Correction?){kind=link}