Alterity Therapeutics Ltd. ( (AU:ATH) ) has issued an update.
Alterity Therapeutics has successfully completed a two-tranche placement, raising A$38.79 million, with significant participation from its leadership and board. The funds will be used to accelerate the regulatory and development activities for its lead candidate ATH434, which has shown positive results in Phase 2 trials for MSA and has received Orphan Drug Designation in the U.S. and Europe. This financial boost is expected to enhance Alterity’s position in the biotechnology industry, allowing it to further its research and development efforts in neurodegenerative diseases.
More about Alterity Therapeutics Ltd.
Alterity Therapeutics Limited is a clinical stage biotechnology company focused on developing disease-modifying therapies for neurodegenerative diseases, particularly Parkinson’s disease and related disorders. The company is based in Melbourne, Australia, and San Francisco, USA, and is advancing its lead asset, ATH434, which has shown promising results in clinical trials for treating Multiple System Atrophy (MSA), a rare Parkinsonian disorder.
Average Trading Volume: 100
Technical Sentiment Signal: Strong Buy
Current Market Cap: $32.18M
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