Alterity Therapeutics Ltd. (ATHE) stock prices were down by 2.11%, bringing the price per share down to USD$1.39 at the end of the trading day. Subsequent premarket fluctuations saw the stock surge by 30.22%, bringing it up to USD$1.81.
USPTO Patent
July 1st, 2021 saw the company announce that it had been granted a new composition of matter patent by the United States Patent and Trademark Office (USPTO). This patent will offer the company a vast monopoly over a new class of iron chaperons, which is a technology capable of redistributing excess iron in the central nervous system. The structural backbone presented in the patent serves as the foundation for small molecule drug candidates that have the capacity to cross the blood brain barrier, thus directly attacking sources of various neuropathologies.
Scope of Patent
Alzheimer’s and Parkinson’s are associated with excess levels of iron in the brain, as are various other important neurodegenerative diseases. Titled “Compounds for and Methods of Treating Diseases”, the patent was granted following an expedited review by the USPTO. It includes coverage of more than 150 novel pharmaceutical compositions that are designed to facilitate the redistribution of the labile iron that is involved in a myriad of neurodegenerative conditions.
Dissecting the Patent
The company is set to launch the Phase 2 trial of ATH434, its lead clinical candidate, by the end of the 2021 year. The small molecule drug is being developed for Multiple System Atrophy (MSA), which is a form of atypical parkinsonism where iron is essential in pathogenesis by promoting α-synuclein aggregation. Results from the Phase 2 study, in conjunction with the ongoing scientific investigation of the treatment, will facilitate the development and optimization of novel compounds that are expected to emerge from the new patent
Continued Expansion
The significant milestone represents an important part of our corporate strategy aimed to expand the company’s portfolio of potential disease modifying treatments for the demographic affected by neurodegenerative diseases. The newly covered compounds are designed to target excess brain iron resulting from the conditions, with the company hoping to identify a new clinical candidate by the time the lead clinical program results are reported.
Future Outlook for ATHE
Armed with the lucrative potential afforded by the granting of the patent, ATHE is poised to capitalize on the continued development of its lead product. The company is keen to continue its trajectory of success as it continues to explore added opportunities arising from the patent. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to usher in significant and sustained increases in shareholder value.
