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Why Neurotrope Is Plunging On Heavy Volume

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Why Neurotrope Is Plunging On Heavy Volume

Shares of thinly-traded nano-cap biotech Neurotrope Inc (NASDAQ: NTRP) were plummeting Monday following an adverse clinical trial readout.

What Happened

Neurotrope, a biopharma developing therapies for neurodegenerative diseases, said a confirmatory Phase 2 study of Bryostatin-1 in moderate-to-severe Alzheimer's disease did meet the primary endpoint, which was change from baseline to Week 13 in the Severe Impairment Battery, or SIB, total score.

At Week 13, an average increase in SIB total score of 1.3 points was achieved with Bryostatin-1 compared to 2.1 points for the placebo groups, which renders the difference statistically insignificant.

The investigational drug did not show a statistically significant difference in multiple secondary outcome measures, including the changes from baseline at weeks five, nine and 15. 

"We are disappointed in the topline results from the confirmatory Phase 2 study," Neurotrope CEO Dr. Charles Ryan said in a statement. 

Why It's Important

Bryostatin is the company's lead product candidate and is being evaluated for multiple neurodegenerative disorders such as Alzheimer's, Fragile X syndrome, multiple sclerosis, depression, stroke and Parkinson's.

Alzheimer's has become a tough nut to crack for companies investing millions or billions in research.

Neurotrope has had its share of heartaches, as results from a Phase 2 study released in mid-2017 weren't particularly encouraging.

Neuroptrope said it is conducting a full review of the data from the confirmatory mid-stage study in Alzheimer's to determine potential next steps. It also said it will provide an update of its plans when appropriate.

Neurotrope shares were down 79% at 88 cents on 27 times their average volume at the time of publication. 

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Posted-In: alzheimer'sBiotech News Movers Trading Ideas Best of Benzinga

 

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