Neurotrope's Alzheimer's Trial Data: Mark Your Calendar

(RTTNews) - Shares of Neurotrope Inc. (NTRP) are down nearly 53 percent from their 52-week high of $10.50 recorded on August 9, 2018.

Neurotrope is a clinical-stage biotech company developing targeted therapeutics for neurodegenerative diseases like Alzheimer's and cognitive diseases and dysfunctions, such as Fragile X.

The lead product candidate is Bryostatin, a natural product isolated from a marine invertebrate organism, a bryozoan called Bugula neritina, which is being evaluated as a potential treatment for Alzheimer's.

Alzheimer's is 6th leading cause of death in the U.S. with direct medical costs of $20 billion per year. The market for treating Alzheimer's is now $5 billion globally and is expected to grow to $10 billion by 2021 driven by an aging population. About 5.7 million Americans are living with Alzheimer's today and the number is expected to grow to 14 million by 2050, according to the Company.

The current therapies for Alzheimer's disease include Donepezil, marketed under the brand name Aricept, to treat all stages of the disease; Galantamine, marketed under the brand name Razadyne, for mild-to-moderate stages; Memantine, marketed under the brand name Namenda, and Memantine/Donepezil combo drug, marketed under the brand name Namzaric, to treat moderate to severe stages, and Rivastigmine, marketed under the brand name Exelon, for all stages of Alzheimer's.

No new Alzheimer's drug has been approved since 2003 - the year, in which Forest Labs' Namenda was approved in the U.S.

A phase II confirmatory study of Neurotrope's Bryosatin in over 100 patients with moderate to severe Alzheimer's is underway. The top-line efficacy data from this study is expected to be announced during the third quarter of 2019. The results could be a critical point of validation for the Bryostatin platform, according to the Company.

Bryostatin is also under a phase I trial for the treatment of Fragile X Syndrome, a genetic disorder.

Key numbers…

Since inception, the Company has incurred losses, and as of December 31, 2018, had an accumulated deficit of $73.69 million. Neurotrope has no approved drugs and no revenue has been generated from product sales to date.

As of February 28, 2019, the Company had roughly $25.5 million in cash, cash equivalents and marketable investment securities, which is expected to be sufficient to fund operations over the next 24 to 36 months.

Given the fact that Neurotrope's lead drug candidate Bryostatin has produced compelling data in a prior phase II trial, all eyes will now be on the additional phase II trial results expected this quarter.

Will the third quarter be a thing to remember for Neurotrope?

NTRP has traded in a range of $3.33 to $10.50 in the last 1 year. The stock closed Friday's (Aug.2, 2019) trading at $4.96, unchanged from the previous day's close.