Synaptogenix, Inc. (NASDAQ: SNPX) reported shares move higher Wednesday morning.
The emerging biopharmaceutical company developing regenerative therapeutics for neurodegenerative disorders, announced today, in preparation for its next phase of Bryostatin clinical development, the dosing of its first patient in the Company’s open-label dose optimization clinical trial.
Synaptogenix’s therapeutic lead drug to treat Alzheimer’s disease (AD), Bryostatin, recently showed a statistically significant improvement in the treatment group that was not observed in the placebo group in two pilot, placebo-controlled Phase 2 trials.
In the current six-month trial, enrollment is complete and clinical testing is proceeding toward conclusion. The Company expects to announce topline data from its National Institutes of Health – sponsored, Phase 2b clinical trial of Bryostatin-1 for patients suffering from advanced and moderately severe AD during the fourth quarter of 2022.
“While the current dosing has been found to produce clear cognitive improvement over baseline, the Company has planned a dose-ranging study to optimize the extent and duration of benefits. With the encouraging data reported in our recent article, we want to be well positioned to conduct a registration study and to enter the clinic as soon as possible,” stated Dr. Daniel Alkon, President and Chief Scientific Officer.
CEO Alan Tuchman said, “We continue to believe Bryostatin is uniquely positioned to target synaptic loss and are looking forward to announcing a read out of our Phase 2 topline data later this year.”
SNPX shares began Wednesday trading up 22 cents, or 4.7%, to $4.87.