EXCLUSIVE: Alzamend Neuro Submits IND For Phase IIA Trial Of Next-Gen Lithium Candidate In Major Depressive Disorder
Portfolio Pulse from Akanksha Bakshi
Alzamend Neuro Inc (NASDAQ:ALZN) has submitted an investigational new drug (IND) application to the FDA for a Phase IIA clinical study of AL001 for the treatment of major depressive disorder (MDD). AL001 is a novel lithium-delivery system that could deliver the benefits of marketed lithium salts while mitigating associated toxicities. The company aims to start a Phase IIA study following the FDA's approval. ALZN shares are down 0.55% at $0.20 premarket.
October 23, 2023 | 11:31 am
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NEGATIVE IMPACT
Alzamend Neuro's IND application to the FDA for a Phase IIA study of AL001 could potentially lead to a new treatment for MDD. However, ALZN shares are currently down 0.55% premarket.
The submission of the IND application to the FDA is a significant step for Alzamend Neuro in developing a new treatment for MDD. However, the immediate market reaction has been negative, with ALZN shares down 0.55% premarket. This could be due to market uncertainty about the approval and success of the new drug.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100