Alterity Therapeutics Shows Positive Efficacy in Parkinson’s Disease Treatment; Shares Surge 160%

Alterity Therapeutics (Nasdaq: ATHE) has presented promising new data on the effect of ATH434 in a Parkinson’s disease primate model at the Future of Parkinson’s Disease Conference 2023. Treatment with ATH434 demonstrated improved motor performance and general function in monkeys with experimentally-induced Parkinson’s disease. The favorable impact on Parkinson’s symptoms was associated with lower iron levels in the area of pathology. In addition, ATH434 treatment increased levels of synaptophysin, a protein marker that reflects functional connections between neurons. The company’s share price rose 160% in morning trading on Monday.

David Stamler, M.D., Chief Executive Officer of Alterity, commented, “These new data are exciting because we have shown for the first time that ATH434 can reduce Parkinson’s symptoms in a higher order animal – the monkey. Importantly, the improvements in motor skills and general functioning that parallel human parkinsonism were associated with reductions in iron in affected brain regions, validating the approach we are using in our ongoing clinical trials.”

Highlights

Alterity’s study compared daily oral doses of ATH434 versus a vehicle for 12-14 weeks. Monkeys were assessed with the Parkinson Behavior Rating Scale (PBRS) before, during and after dosing. At Week 12, all evaluable ATH434-treated monkeys had stable or improving PBRS scores while two of three vehicle-treated monkeys did not demonstrate improvement or worsened.

Alterity’s lead candidate, ATH434, is an oral agent designed to inhibit the aggregation of pathological proteins implicated in neurodegeneration.

ATH434 has been granted Orphan Drug Designation for the treatment of multiple system atrophy (MSA) by the U.S. FDA and the European Commission.

Nearly one million people in the U.S. and more than 10 million people worldwide are living with PD. Approximately 60,000 Americans are diagnosed with PD each year.

About Alterity Therapeutics Limited

Alterity Therapeutics is a clinical stage biotechnology company dedicated to creating an alternate future for people living with neurodegenerative diseases. The Company’s lead asset, ATH434, has the potential to treat various Parkinsonian disorders and is currently being evaluated in two Phase 2 clinical trials in Multiple System Atrophy. Alterity also has a broad drug discovery platform generating patentable chemical compounds to treat the underlying pathology of neurological diseases. The Company is based in Melbourne, Australia, and San Francisco, California, USA. For further information please visit the Company’s web site at www.alteritytherapeutics.com.