Shares of biopharmaceutical company Alzamend Neuro Inc ALZN are soaring Thursday afternoon after Cognition Therapeutics Inc CGTX shares surged following the presentation of a proteomic analysis of clinical biomarker data from a study on Alzheimer's disease.
Cognition Therapeutics presented the data from its SPARC study of CT1812 in mild-to-moderate Alzheimer's disease at the Alzheimer's Association International Conference on Thursday. The company shared the data with Benzinga in an exclusive look at the analysis.
The results support the proposed synaptoprotective mechanism of action of CT1812, as well as its role in normalizing cellular processes, which are known to be disrupted by Alzheimer's disease.
Related Link: EXCLUSIVE: Cognition Therapeutics Shares Biomarker Data From Alzheimer's Candidate
Alzamend Neuro shares spiked following a sharp move higher in Cognition Therapeutics stock on Thursday. The company is focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders, including Alzheimer's.
ALZN Price Action: Alzamend Neuro has a 52-week high of $2.44 and a 52-week low of 80 cents.
The stock gained 10.38% in Thursday's session, closing at $1.01, according to data from Benzinga Pro.
Photo: National Human Genome Research Institute from Flickr.
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