Alterity Therapeutics (NASDAQ:ATHE) Stock Continues to Trade in a Range After The Recent Fall
Shares of Alterity Therapeutics (NASDAQ:ATHE) continues to consolidate after the recent development.
Market Stats
On Friday, ATHE stock moved down 3.97% at $1.2100 with more than 332.97K shares, compared to its average volume of 525.80K shares. The stock has moved within a range of $1.2100 – 1.2800 after opening the trade at $1.2300.
New Publications Providing Further Evidence of the Potential of ATH434 to Treat Neurodegenerative Diseases
Alterity Therapeutics (NASDAQ:ATHE), which is committed to developing disease modifying treatments for neurodegenerative conditions, has announced publication of two preclinical studies. These studies include data regarding the potential ATH434 to treat Parkinsonian disorders.
Non-motor symptoms (NMS) are common in patients with Parkinsonian disorders, such as Parkinson’s disease (PD) and Multiple System Atrophy. Patients suffering from Parkinson’s also experience gastrointestinal (GI) complications, cognitive deficits, autonomic dysfunction, and mood disturbance.
The publication in the Journal of Parkinson’s Disease – ATH434 Reverses Colorectal Dysfunction in the A53T Mouse Model of Parkinson’s Disease – shows data from a preclinical study investigating the effect of ATH434 on GI complications of PD.
David Stamler, M.D., CEO of Alterity states that the reversal of colonic dysfunction in this preclinical model of PD may translate to clinical benefit in alleviating non-motor symptoms for individuals living with the disease. Complications with PD are thought to be caused due to alpha-synuclein being accumulated – ATH434 has been shown preclinically to reduce the aggregation of alpha-synuclein by binding and redistributing excess iron in areas of pathology.
A publication regarding an in vitro study has been announced too. It states that the novel mechanism of action of ATH434, previously known as PBT434, shows promise for its continued development as a therapeutic agent in neurodegenerative diseases associated with iron accumulation.
Key Quote
“This published study provides further evidence of the potential for ATH434 to modify the course of Parkinson’s disease. The reversal of colonic dysfunction in this preclinical model of PD may translate to clinical benefit in alleviating non-motor symptoms for individuals living with the disease,” said David Stamler, M.D., Chief Executive Officer, Alterity. “Practicing clinicians are well aware of the substantial impact that these symptoms have on the quality of life of individuals with Parkinson’s disease. We are currently conducting additional preclinical studies to evaluate the potential of ATH434 for the treatment of PD and look forward to advancing it into a future proof-of-concept study.”
Traders Corner
ATHE stock is trading below the 20-Day and 50-Day Moving averages of $1.26 and $1.30 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.44. The stock is down 12% in the past 3-month.
