Appendix 4C – Q1 FY24 Quarterly Cash Flow Report
- Participant screening closed for ATH434-201 Phase 2 study
- Independent Data Monitoring Committee recommended the ATH434-201 Phase 2 study continue as planned
- Received A$4.74M cash refund under the Australian R&DTI Scheme
- Data presentations from Alterity’s bioMUSE natural history study of Multiple System Atrophy were delivered at the International Congress of Parkinson’s Disease and Movement Disorders
- New composition of matter patent granted by European Patent Office
- Cash balance on 30 September 2023 of A$16.7M
MELBOURNE, AUSTRALIA AND SAN FRANCISCO, USA – 30 October 2023. Alterity Therapeutics Limited (ASX: ATH, NASDAQ: ATHE) (“Alterity” or “the Company”), a biotechnology company dedicated to developing disease modifying treatments for neurodegenerative diseases, releases its Appendix 4C Quarterly Cash Flow Report and update on company activities for the quarter ending 30 September 2023 (Q1 FY24).
“Alterity had a great start to the 2024 financial year with significant developments in the first quarter,” said David Stamler, M.D., Chief Executive Officer of Alterity. “Our two Phase 2 clinical trials in Multiple System Atrophy (MSA) are on track as we look to develop a new treatment for this devastating rare disease. Of note, we have closed screening in the ATH434-201 study and expect to close enrollment imminently. In addition, an independent Data Monitoring Committee (DMC) recommended that the trial continue as planned and they expressed no concerns about safety. These events are important milestones in the development of ATH434 for the treatment of early-stage MSA.”
“While the ATH434-201 trial is evaluating individuals with early-stage MSA, we are also conducting a second Phase 2 trial in individuals with more advanced disease. This open label, biomarker study will give us the opportunity to assess the effect of ATH434 in multiple populations and we also expect it to provide preliminary data in the first cohort of participants in the first half of next year,” concluded Dr. Stamler.
The Company’s cash position on 30 September 2023 was A$16.7M with operating cash outflows for the quarter of A$4.1M, offset by a refund of $4.7M from the Australian Taxation Office under the Australian Government’s Research and Development Tax Incentive (R&DTI) Scheme for eligible activities conducted during the financial year ending 30 June 2022.
ATH434–201: Randomized, Double-Blind Phase 2 Clinical Trial in MSA
Today, Alterity announced that screening has closed for its ATH434-201 Phase 2 clinical trial, an important step to completing enrollment in the study. On 26 July, Alterity announced that an independent DMC recommended the trial continue as planned. The DMC conducted a prespecified review of unblinded clinical data from an initial cohort of study participants. The DMC expressed no concerns about safety and recommended that the study continue without modification.
This randomized, double blind, placebo controlled clinical trial continues to progress with early-stage MSA participants enrolled in seven countries globally. The trial has been well received by the study
investigators as they implement Alterity’s state of the art methods to diagnose, treat and track the disease.
ATH434–202: Open-label, Biomarker Phase 2 Clinical Trial in MSA
The ATH434-202 trial is enrolling according to plan. The study is assessing the effect of ATH434 treatment on neuroimaging and protein biomarkers to evaluate target engagement, in addition to clinical measures, safety, and pharmacokinetics. The primary objective of this study is to evaluate the impact of 12 months treatment with ATH434 on brain iron by MRI in a more advanced patient population than is being studied in Alterity’s double blind Phase 2 trial. Preliminary data from the first cohort in this study is expected in the first half of 2024.
bioMUSE Natural History Study
Alterity’s bioMUSE natural history study continues to produce meaningful data to address the need for novel approaches to the evaluation of individuals with MSA. The diagnosis of early MSA can be challenging as individuals often present similarly to Parkinson’s disease. On 31 August, presentations from bioMUSE were delivered at the prominent International Congress of Parkinson’s Disease and Movement Disorders (MDS). The presentations addressed the importance of incorporating biomarkers in diagnosis of MSA and support the need for a timely and accurate diagnosis to ensure that the right treatment can be delivered to patients.
Findings from the bioMUSE study are being incorporated into the Company’s Phase 2 studies. Alterity’s unique protocol designs help to ensure they are enrolling the right patient population with confirmed MSA, thus giving ATH434 the best chance at success. Based on the collaboration with clinical and neuroimaging experts from Vanderbilt University Medical Center in the U.S., Alterity is in a unique position to implement this strategy in its development programs.
Composition of Matter Patent Granted in Europe
The European Patent Office granted Alterity a new composition of matter patent. The patent secures broad protection over a new class of iron chaperone drug candidates for treating major neurodegenerative diseases. It is well established that excess iron in the brain is implicated in the pathology of many important neurodegenerative diseases, including Alzheimer’s and Parkinson’s diseasesi.
The composition of matter patent, entitled, “Compounds for and Methods of Treating Diseases”, Patent No. 3938364 covers more than 150 novel pharmaceutical compositions that are designed to redistribute the excess iron implicated in neurodegenerative diseases. The patent will confer on Alterity 20 years of exclusivity over the compounds claimed in the patent, thus providing a strong basis for drug development and commercialization.
About Alterity Therapeutics Limited
Alterity Therapeutics is a clinical stage biotechnology company dedicated to creating an alternate future for people living with neurodegenerative diseases. The Company’s lead asset, ATH434, has the potential to treat various Parkinsonian disorders. Alterity also has a broad drug discovery platform generating patentable chemical compounds to intercede in disease processes. The Company is based in Melbourne, Australia, and San Francisco, California, USA. For further information please visit the Company’s web site at www.alteritytherapeutics.com.
i Dusek, P. et al. Cerebral Iron Deposition in Neurodegeneration. Biomolecules 2022, 12, 714. https://doi.org/10.3390/biom12050714.
Authorisation & Additional information
This announcement was authorised by David Stamler, CEO of Alterity Therapeutics Limited.