Quarterly Cash Flow Report
- Results of Phase 1 Clinical Trials for lead compound PBT434 announced
- Presentation of clinical trial data at the 2019 International Congress of Parkinson’s Disease and Movement Disorders (MDS Congress) in France
- Presentation at the Janney Healthcare conference in New York
- Cash balance of $10.7M
Alterity Therapeutics Limited (ASX: ATH, NASDAQ: ATHE) (“Alterity” or “the Company”), releases its Appendix 4C Quarterly Cash Flow Report and update on company activities for the quarter ending 30 September 2019 (Q1 FY20).
Phase 1 clinical trial results for Alterity’s lead compound PBT434 were announced this past quarter in July. PBT434 was found to be safe and well-tolerated in its human subjects with an adverse event profile comparable to placebo. The clinically tested doses achieved concentrations in brain that are potentially clinically relevant.
PBT434 looks to treat Parkinsonian disorders such as Parkinson’s disease (PD) and Multiple System Atrophy (MSA). These neurodegenerative diseases result from accumulation of aggregated alpha-synuclein protein. PBT434 was found to inhibit the alpha-synuclein aggregation, preserve neurons and improve motor function in animal models of PD and MSA.
Alterity presented the Phase 1 results at the MDS Congress in France on the 24th of September and at the Janney Healthcare Conference in New York City on the 10th of September. The conferences provided opportunities for the Company to network with other leaders in the industry along with global healthcare investors.
Cash at the end of the quarter was $10.7M compared to $14.4M in the previous quarter. Expenses predominantly related to completion of the PBT434 Phase 1 clinical trial and pre-clinical studies for future trials into PBT434. The Company anticipates receipt of $4.8M from the Australian Taxation Office relating to the R&D tax incentive for the 2019 financial year before the end of 2019.
Geoffrey Kempler, CEO of Alterity, said: “Completing the Phase 1 trials for PBT434 and having positive results from the study has helped Alterity raise its profile in the industry through events such as the MDS Congress and Janney Healthcare Conference. The Company now looks forward to updating investors and the industry on further trials into PBT434, which will occur in due course.”
Investor enquiries IR@alteritytherapeutics.com