Alterity Therapeutics Ltd. (ATHE) stock prices were up by 8.77% as of the market closing on May 14th, 2021, bringing the price per share up to USD$1.24.
Solid Liquidity Position
In an update on company activities for the quarter ending 31st March 2021, ATHE announced a solid liquidity position of USD$32.8 million. Along with operational cash outflows amounting to USD$5 million, these numbers are in accordance with the company’s forecasts. The company is stockpiling cash reserves as it continues its ongoing preparations for the Phase 2 clinical trial for its leading drug candidate, ATH434 in patients with Multiple System Atrophy (MSA).
BioMUSE Natural History Study
A majority of ATHE’s efforts and resources were devoted to the bioMUSE Natural History study in MSA patients. The study being conducted at Vanderbilt University Medical center will facilitate the provision of important information and insights that will help inform patient selection and the design of the Phase 2 trial. With a schedule date later in 2021, the study has already enrolled 80% of its original target cohort but is now evaluating the feasibility to expand enrollment.
Michael J. Fox Grant
ATHE was awarded a USD$495,000 grant by the Michael J. Fox Foundation to supplement the evaluation of the pharmacological profile of ATH434. The work being done is expected to determine the optimal dose of ATH434 in future clinical trials of patients with Parkinson’s disease. This marks the second grant that ATHE has received from the Michael J. Fox Foundation for the development of ATH434.
Increased Exposure for ATH434
The growing scope of ATHE is made apparent by the regular invitations for the company to present at investor conferences and leading clinical and scientific events around the world. In January and March of 2021, ATHE CEO presented at various life science and healthcare conferences attended by various institutional fund managers and investors. The company was also a part of the Biotech Showcase that was hosted by JP Morgan as a satellite event at the world’s largest healthcare conference.
ATHE also featured as a part of the 7th Annual International Congress of MSA’s poster presentation with the provision of further data on ATH434. Updates included new results of data on blood pressure following changes in body position, concluding that ATH434 did not lower blood pressure when people move to the standing position. This is a very significant development seeing how impaired maintenance of blood pressure is a vital issue with MSA.
Future Outlook for ATHE
Armed with a solid liquidity position to fund their development ventures for ATH 434 for the foreseeable future, ATH has made strides to significantly expand on the visibility of their leading drug candidate. Current and potential investors are hopeful that the company will be able to leverage the resources at its disposal to facilitate the commercialization and proliferation of ATH434 as a standard treatment for patients with MSA.