Alterity Therapeutics gains on FDA nod for rare Parkinson's disorder drug

Alterity Therapeutics

20/09/2022 02:02

** Shares of Alterity Therapeutics Ltd  ATH.AX  rise as much
as 6.25% to A$0.017, highest since Sept 13
    ** The drug developer receives U.S. FDA approval for
investigational new drug (IND) application for ATH434 to treat 
Multiple System Atrophy (MSA) - a rare disease with features
similar to those seen in Parkinson's disease (https://bit.ly/3SySACL)
    ** MSA is a neurodegenerative disease that results in
failure of autonomic nervous system and causes impaired movement
    ** Says approval of IND authorises co to conduct its Phase 2
clinical trials in the United States
    ** Alterity stock marks its second consecutive session of
gains
    ** About 4.5 mln shares exchange hands vs 30-day average of
1.1 mln shares 
    ** Alterity stock down 23.8% this year, as of last close 

    

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))