Alzamend Neuro Inc. (ALZN) stock prices surged by 39.04% some time after market trading commenced on September 30th, 2021. This brought the price per share up to USD$3.17 early on in the trading day.
FDA Approval of Pre-Investigational IND
September 30th, 2021 saw ALZN stock announce having received a written response to its meeting request. The meeting request was in relation to the company’s Type B Pre-Investigational New Drug application from the U.S Food and Drug Administration. This is hoped to facilitate a path for the company’s clinical development of AL002 as planned. The treatment is a patented method that makes use of a mutant-peptide sensitized cell as a cell-based therapeutic vaccine. It is designed to restore the ability of a patient’s immunological system to combat Alzheimer’s.
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ALZN Stock’s Collaboration with FDA
The company has benefitted from its collaboration with the United States Food and Drug Administration. The FDA has provided ALZN stock with important information and clarity that has facilitated the submission process for an IND to initiate a clinical trial for AL002. Preclinical work has supported the treatment’s associated with a positive anti-inflammatory response and a decrease in brain amyloid contents. This is based on the treatment’s positive toxicology results, the biologic nature of AL002, and the urgent need to deliver treatments for Alzheimer’s to patients. On these bases, the company proposed to conduct a combined Phase 1/2 study, which the FDA has agreed to.
About AL002
AL002 is a patent method that uses a mutant-peptide sensitized cell as a cell-based therapeutic vaccine. It serves to reduce beta-amyloid plaque and seeks to restore the ability of patients’ immunological systems to combat Alzheimer’s Disease. The therapy is designed to function by stimulating the body’s own immune system in an attempt to prevent the formation and breakdown of beta amyloids. These beta amyloids build up in the brain to form a plaque that subsequently block the neurological brain signals. This ultimately leads to the symptoms and onset of Alzheimer’s Disease.
Future Outlook for ALZN Stock
The company reported a promising quarter, further consolidated by its approval for the continued development of AL002 by the FDA. ALZN stock is poised to capitalize on the opportunities afforded to it as a result of this development. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.
