The stock of Alzamend Neuro, Inc. (ALZN) gained in the Pre-market today. The stock valued at around $2.76 in the pre-market. This is a gain of more than 15% from the previously closed value. At the end of the last trading session the stock closed at $2.40. The average value of the stock traded in the trading session was around 8.41 million.
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Reasons of the stock gain:
A couple of weeks ago on 3oth November, 2021, the company announced that they will be going to deliver clinical trial of their topline data for phase 1 First-in-Human for AL001 Dementia specifically related to Alzheimer’s. The company said that the data will provided in the mid of December 2021 or if extended it could be late December.
The purpose of First-in-Human phase 1 study is to find out the clinical safety of AL001, which will be followed by a phase 2 study. AL001 is currently under development and is a lithium delivering ionic cocrystal. This is used as oral treatment for the patients of Dementia associated Alzheimer’s having mild, moderate or severe cognitive impairment.
They received a good feedback from FDA related to clinical development of AL002. The FDA agreed to the proposal to conduct a combine Phase ½ studies. The AL002 is also patented by Alzamend Neuro, Inc. (ALZN) which is a method of using a mutant peptide sensitized cell as cell based vaccine. The specialty of the therapy is that itrestores the patient’s ability of immunological system to fight Alzheimer’s. After the agreement of FDA for the collective study this has extended the deadline for the submission on the investigational new drug.
Effect on the stock:
The company is looking forward to disclose positive results in the upcoming report which is due in the mid or late December. The investors are also anticipating that the stock could go in upward trajectory if the company reports some positive results about its AL001 Phase 1 trails. Due to which the stock of Alzamend Neuro, Inc. (ALZN) is getting popular among the investors and are risking on getting some high gains when the report goes public.
Conclusion:
The report of the study will play a key role in the value of the stock. If things go as per the plan the stock of Alzamend Neuro, Inc. (ALZN) could surge and gain more value in the upcoming days.
