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Shares of Neurotrope Inc (NASDAQ:NTRP), a clinical-stage biopharmaceutical company that develops therapies for the treatment of Alzheimer's and neurodegenerative diseases, shot higher by more than 15 percent early Friday morning.
Neurotrope announced it will be releasing Monday top-line data from a Phase 2 clinical trial exploring its therapy Bryostatin-1. The trial consists of 148 patients suffering from moderate to severe Alzheimer's Disease.
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Bryostatin was developed at the Blanchette Rockefeller Neurosciences Institute and has shown promising signs of success even in patients with gene mutations.
What To Know
Benzinga had the opportunity to chat with Neurotrope CEO Dr. Susanne Wilke earlier this year.
Wilke explained there is a "current hypothesis" of treating the disease by focusing on neuronal loss. Instead, the company focuses on regenerative methods to replace lost synaptic networks that are consistently associated with the breakdown of human cognitive functions.
"In the current hypothesis," Wilke explained, "we take amyloid plaque and tau tangles - which kind of strangulate the neuron and then you have neuronal loss - as being causative for Alzheimer's. What we are saying is, maybe that is true, but it may not be causative."
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Wilkes noted that before you get to neuronal loss, you probably will have synaptic loss and that's where Neurotrope's Bryostatin looks to be revolutionary.
Analyst's Take
Analysts at Aegis initiated coverage of Neurotrope in early April with a Buy rating and $31 price target under the belief that the company's Bryostatin could address several important pathologies of Alzheimer's
"If the Phase IIb trial is partially successful (meets some but not all of its endpoints) we believe it could still have therapeutic value in AD (Alzheimer's Disease) and other neurological diseases where cognitive function or development is affected," the analyst stated.
The stock traded recently at $15.61, up 3 percent on the day.
See Also:
Going To The Big Show: Former Pink-Sheet Neurotrope's First Day On The Nasdaq
Alzheimer's Pipeline In Focus At Oppenheimer Conference As Neurotrope's Trial Results Approach
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.