Inhibikase Therapeutics Issues Letter To Shareholders And Provides Update On Development Programs
Portfolio Pulse from Benzinga Newsdesk
Inhibikase Therapeutics, Inc. (NASDAQ:IKT) issued a shareholder letter updating on its development programs. The company reported progress in its neurodegenerative and cancer therapeutics programs, with a 68% stock price increase since October. The 201 trial for risvodetinib in Parkinson's disease is enrolling patients, expecting results in H2 2024. The FDA granted Orphan Drug Designation for risvodetinib for Multiple System Atrophy. IkT-001Pro, a prodrug of imatinib, completed bioequivalence studies, and a pre-NDA meeting with the FDA is planned for early 2024. The company also developed a new tablet formulation for risvodetinib and is exploring non-oncology indications for IkT-001Pro.
December 19, 2023 | 1:41 pm
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Inhibikase Therapeutics reported significant progress in its development programs, including advancements in trials for risvodetinib and IkT-001Pro, which may positively influence investor sentiment and the stock price in the short term.
The positive update on clinical trials and regulatory milestones, such as the Orphan Drug Designation and the planned pre-NDA meeting with the FDA, are likely to be viewed favorably by investors. The stock's recent performance and the company's optimistic outlook for 2024 may contribute to continued investor interest and potential stock price appreciation in the short term.
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