Market Overview

Neurotrope Alzheimer's Candidate Could Generate Revenue Beginning In 2024, Analyst Says

Neurotrope Alzheimer's Candidate Could Generate Revenue Beginning In 2024, Analyst Says

Alzheimer's drug research has a high failure rate, and symptoms of the disease start appearing long after amyloid plaques — which are responsible for interruption of cell-to-cell signal transfer — deposit on the brain.

The Analyst

Roth Capital Partners analyst Robert LeBoyer initiated coverage of Neurotrope Inc (NASDAQ: NTRP), which is developing Bryostatin 1 to treat Alzheimer's, with a Buy rating and a $15 price target.

The Thesis

Unlike therapies that slow the progression of Alzheimer's, Neurotrope's Bryostatin-1 functions by improving the memory loss caused by the disease, LeBoyer said in a Thursday note.

The biotech company reported Phase 2 data in April 2017 that supported Bryostatin-1's mechanism of action and supplied additional information for further development and clinical use.

"While the trial provided proof-of-concept and justifies moving forward, the next trial is expected to have a larger number of patients and longer treatment period," LeBoyer said. 

The new study, expected to begin in mid-to-late 2018, could be used to form a pivotal trial for FDA approval, the analyst said. 

Bryostatin-1 is also being considered for Fragile-X syndrome, with clinical trials likely to begin in 2018. Bryostatin-1 has been tested for memory loss due to ischemic stroke and traumatic brain injury, according to Roth Capital. 

"Our valuation is based on conducting a Phase 2, a confirmatory Phase 3 and then approval of Bryostatin-1 in late 2023, with first revenues in fiscal 2024." 

The Price Action

Neurotrope shares are down 55 percent over the past year.

Related Links:

Attention Biotech Investors: Mark Your Calendar For These March PDUFA Dates

7 Biotech Stocks With Clinical Trial Outcomes In March

Latest Ratings for NTRP

Sep 2019Janney CapitalDowngradesBuyNeutral
Jun 2019Janney CapitalInitiates Coverage OnBuy
May 2018Maxim GroupInitiates Coverage OnBuy

View More Analyst Ratings for NTRP
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