Shares of Alterity Therapeutics Limited [NASDAQ: ATHE] jumped higher on Monday’s session with heavy volume. The company declared that it has got the new patent titled “Compound for and Methods of Treating disease” from USPTO.
The main aim of receiving this patent is to treat degenerative diseases. Moreover, the Company’s main focus will be the development of a next-generation drug development portfolio. Alterity has filed for a patent in March 2020 and after a thorough review, USPTO has issued the patent to the company.
The new patent includes more than 150 novel pharmaceutical formations that are developed to redistribute the labile iron implicated in Parkinson’s disease, Alzheimer’s disease, and other neurodegenerative conditions.
Shares of Alterity Therapeutics Limited [NASDAQ: ATHE] soared 119.13% at $2.52 during the trading session of Monday. It had a trading volume of 63.16 million as compared to the average volume of 120.68K. Looking at its liquidity, it has a current ratio of 3.60.
In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $0.28 & a high of $5.15. Furthermore, its stock surged 800.00% from its 52-weeks low and plunged -51.07% from its 52-weeks high.
Alterity Therapeutics Limited [NASDAQ: ATHE] has a return on assets (ROA) of -92.10%, and a return on equity (ROE) of -117.50%. This company has a total market capitalization of $24.49 million at the time of writing.
Alterity has the notion its therapeutics can damage the underlying pathology of neurodegenerative conditions in which labile iron is implicated in disease pathology. Additionally, this includes Parkinsonian disorders such as Parkinson’s disease and Multiple System Atrophy, as well as Alzheimer’s disease.