Stock Alert: Cyclo Therapeutics Adds 20% Following Positive Data From Drug Candidate

(RTTNews) - Shares of Cyclo Therapeutics, Inc. (CYTH) are up more than 20% Tuesday morning after the company announced the presentation of positive data from the early stage studies of its lead drug candidate, Trappsol Cyclo in Niemann-Pick Disease Type C at the World Symposium 2021.

Niemann-Pick Disease Type C is a rare genetic disorder causing cholesterol accumulation in lysosomes of cells, organ dysfunction and premature death.

Data from the ongoing Phase 1 extension study showed improvement in disease features or disease stabilization with home-based intravenous infusions of Trappsol Cyclo.

The Interim analysis of Phase 1/2 study showed Trappsol Cyclo has favorable safety profile and encouraging signals in efficacy.

Phase 1/2 study is estimated to be completed in February 2021 with top line results expected in the first quarter of 2021.

The company plans to commence enrollment in pivotal Phase 3 study in the second quarter of 2021.

CYTH, currently at $13.50, has been trading in the range of $3.40- $30 in the last one year.