Neurotrope Inc (NASDAQ:NTRP) is off to an incredibly rough day in the market today, and for good reason. The company released a clinical update that was packaged nicely, but when you dig into the details, they didn’t release much, concerning investors and sending the stock downward. As is nearly always the case, our partners at Trade Ideas were the first to alert us to the declines. At the moment (9:37), NTRP is trading at $9.10 per share after a loss of $9.71 per share or 51.62%.
NTRP Alzheimer’s Results Fail To Impress Investors
As mentioned above Neurotrope is having a rough start to the trading session today after releasing news with regard to a clinical trial surrounding the company’s Alzheimer’s treatment known as Bryostatin-1. While the company said that the smaller dose of its experimental drug met the main gol in a small mid-stage study, the price of the stock tumbled as the data failed to impress.
The big problem is that in about 90 patients who received the same dose but did not complete the study, Bryostatin-1 did not show any statistically significant improvement. NTRP also failed to provide details with regard to the higher 40mcg does within the study. To make matters worse, the company held what seemed to be a pointless conference call in which they danced around questions, refusing to provide answers to many and admitting that they’re “only reporting a small fraction of the data today.” The bottom line here is that while the company did report some positive data, investors are concerned about the amount of data that was withheld.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on NTRP. In particular, we’re interested in following further news surrounding Bryostatin-1 and whether or not this will prove to be an effective treatment for Alzheimer’s. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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