Alzamend surges after FDA clears clinical trial for Alzheimer's disease drug

Alzamend Neuro

30/09/2021 16:40

** Shares of drug developer  ALZN.O  surge ~38% to $3.14
    ** Co says U.S. FDA has agreed to its plan to conduct a
combined early- and mid-stage study of experimental drug, AL002,
to treat Alzheimer's disease (https://refini.tv/3up0kfw)
    ** Based on FDA's written feedback, Alzamend anticipates
filing application by end of November and initiating clinical
trial of AL002 in Q1 of 2022
    ** AL002 uses a sensitized cell as a cell-based therapeutic
vaccine that reduces beta-amyloid plaque; it seeks to restore a
patient's immunological system to fight Alzheimer's disease
    ** Shares surged ~61% on July 23, after co received positive
toxicology results from mice study for AL002  urn:newsml:reuters.com:*:nL4N2OZ1YZ
    ** Stock has fallen ~77% since its June 15 market debut

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com))