HomeTop MoversWhy Alterity Therapeutics Limited (ATHE) stock surged in the after-hours on Monday?

Why Alterity Therapeutics Limited (ATHE) stock surged in the after-hours on Monday?

Alterity Therapeutics Limited (ATHE) shares soared 9.06% in after-hours on Monday, December 13, 2021, and closed the daily trading at $0.97. However, in the regular trading session, ATHE’s stock lost 2.80%. ATHE shares have fallen 41.49% over the last 12 months, and they have moved up 7.81% in the past week. Over the past three months, the stock has lost 29.41%, while over the past six months, it has shed 35.08%.

Let’s have a brief discussion about its latest news.


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ATHE received first authorization for Phase 2 clinical trial for ATH434

On December 14, 2021, Alterity Therapeutics (ATHE) announced that the New Zealand Medicines and Medical Devices Safety Authority (Medsafe) has authorized Alterity’s Phase 2 clinical trial for ATH434 in Multiple System Atrophy (MSA), a rare and highly debilitating Parkinsonian disorder.

At this important announcement, Chief Executive Officer of Alterity, David Stamler, M.D., said that the approval by the New Zealand health authority to proceed with our Phase 2 clinical trial is a significant achievement as it clears the way to initiate the study in the first quarter of next year.

ATHE participation in the recent events

Alterity recently participated at Benchmark Company Discovery One-on-One Investor Conference, which was held on Thursday, December 2, 2021.

ATHE also participated at MST Financial Lifesciences & Biotech Forum which was held on Wednesday, November 24, 2021.

Also, on November 9, 2021, the company did a poster presentation, and the accompanying video was delivered at the American Autonomic Society 32nd Annual Internation Symposium on the Autonomic Nervous System.

Preclinical studies about ATH434

On November 5, 2021, Alterity Therapeutics (ATHE) published two preclinical studies, in the Journal of Parkinson’s Disease, demonstrating the potential of ATH434 to treat Parkinsonian disorders.

According to the publication, ATH434 Reverses Colorectal Dysfunction in the A53T Mouse Model of Parkinson’s Disease presents results from a preclinical study investigating the effect of ATH434 on GI complications of PD.

ATHE expanded ATH434 phase 2 clinical development program

On October 19, 2021, Alterity Therapeutics (ATHE) expanded the clinical development program for the Company’s lead asset, ATH434, in patients with Multiple System Atrophy (MSA), a rare and rapidly progressing Parkinsonian disorder.

The Phase 2 clinical trial is a randomized, double-blind, placebo-controlled investigation of ATH434 in patients with early-stage MSA. The study will explore the effect of ATH434 treatment on imaging and protein biomarkers such as aggregating α-synuclein and excess iron, which are important contributors to MSA pathology.

Conclusion

Well, we have no recent news which could justify its gains in the after-hours on Monday but we have recent positive news which can take its stock price up in the coming trading sessions on Tuesday. The first authorization for the phase 2 clinical trial is a significant achievement and we can expect a massive surge on Tuesday.

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