 "Alterity Therapeutics Stock Doubles Premarket On Positive MSA Trial Results: Retail Excitement Soars")
synopsis
A 50mg dose of its ATH434 showed 8% reduction in clinical progression of early-stage multiple system atrophy vs. placebo.
Shares of Alterity Therapeutics soared 108% premarket Thursday, surging toward levels last seen in September 2022, with trading volume nearly 75 times the daily average.
The clinical-stage biotech announced positive Phase 2 results for ATH434, its oral treatment for early-stage multiple system atrophy (MSA)— a rare neurodegenerative disease.
Key findings from the 52-week trial:
- 50 mg dose: 48% reduction in clinical progression vs. placebo
- 75 mg dose: 29% reduction in clinical progression vs. placebo
The 50 mg dose reduced iron accumulation in multiple system atrophy-affected brain regions, while the 75 mg dose specifically reduced iron buildup in the globus pallidus.
CEO David Stamler said, “Currently, there are no approved treatments that slow the progression of MSA, and these results show ATH434’s targeted iron engagement may truly have a disease-modifying effect.”
Stocktwits message volume for Alterity skyrocketed, hitting ‘extremely high’ levels ahead of Thursday’s opening bell, with sentiment hitting the highest reading in over a year.
Some users predicted ATHE could more than triple, stabilizing around $10, while others reiterated their bullish stance on the drug’s market potential.
ATHE was among the top three trending tickers on Stocktwits early Thursday.
Message volume around the stock on the platform has surged 700% over the past year, during which it has gained 46%.
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