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- Biotech company Alterity Therapeutics (ATH) has entered back-to-back trading halts as it considers, plans and executes an equity raise
- The healthcare stock, which is listed on the ASX and the U.S.-based NASDAQ, will keep its shares paused from trade until Friday, October 16
- At this stage, the details of the raise — and just how much Alterity wants to pocket — remain unclear
- Alterity is currently working on a suite of treatments to support people with neurodegenerative disorders
- Alterity shares last traded for five cents each on Friday, October 9
Biotech company Alterity Therapeutics (ATH) has entered back-to-back trading halts as it considers, plans and executes an equity raise.
The healthcare stock, which is listed on the ASX and the U.S.-based NASDAQ, will keep its shares paused from trade until Friday, October 16.
At this stage, the details of the raise — and just how much Alterity wants to pocket — remain unclear. Nevertheless, shareholders should find out more information by the end of the week.
Alterity is currently working on a suite of treatments to support people with neurodegenerative disorders.
Its lead candidate, formally known as ATH434, is currently involved in clinical trials. Previously, the drug has been deemed effective in animal studies against a family of disorders which includes Parkinson’s disease.
In Australia, it’s estimated that one in 308 people live with Parkinson’s. In fact, Parkinson’s Australia says 37 new cases are recorded every single day, and the total economic cost of the disease totals just shy of $10 billion every year.
At the end of FY20, Alterity met with the U.S. Food and Drug Administration (FDA) to receive guidance for its ATH434 treatment.
Already, the company has completed a phase one clinical trial, which evaluated the drug’s efficacy as a Multiple System Atrophy (MSA) treatment. MSA is part of a family of Parkinsonian disorders, a branch of neurodegenerative diseases which also includes Parkinson’s. Now, Alterity is gearing up for a phase two clinical trial, and is working with the FDA to progress its study design.
Alterity shares last traded for five cents each on Friday, October 9.
