Serina Therapeutics (SER) stock rocketed on Thursday after the pharmaceutical company announced clearance from the U.S. Food and Drug Administration (FDA) for its Investigational New Drug (IND) application for SER-252. This is an investigational therapy for advanced Parkinson’s disease.
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Serina Therapeutics noted that this approval allows the company to move forward with a Phase 1b registrational clinical study evaluating SER-252 in patients with advanced Parkinson’s disease. This follows several communications with the FDA for the trial in an effort to reach a New Drug Application (NDA) for SER-252.
Steve Ledger, CEO of Serina Therapeutics, said, “FDA clearance of the IND is a major milestone for Serina and underscores the promise of the SER-252 program. As we initiate our registrational study, we will begin generating meaningful clinical data for SER-252 in patients with advanced Parkinson’s disease. With FDA alignment on a registrational development strategy under a 505(b)(2) NDA pathway, we believe SER-252 has a clear and efficient path forward toward addressing a significant unmet medical need.”
Serina Therapeutics Stock Movement Today
Serina Therapeutics stock was up 37.87% on Thursday, extending a 96.03% rally year-to-date. However, the shares were still down 40.87% over the past 12 months.
With today’s news came heavy trading of SER stock, as more than 45 million shares changed hands, compared to a three-month daily average trading volume of about 24,000 units.
Is Serina Therapeutics Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Serina Therapeutics is Moderate Buy, based on a single Buy rating over the past three months. With that comes an $11 price target for SER stock, representing a potential 182.05% upside for the shares.
