Aptorum (NASDAQ:APM) stock is on the rise Wednesday after announcing approval to move forward with a Phase 1 clinical trial of its staph infection drug.
Here’s what investors need to know about the news and the company.
- According to Aptorum, the trial will measure the safety and tolerability of ALS-4.
- This is the company’s orally administered small molecule drug designed to treat “infections caused by Staphylococcus aureus including MRSA.”
- The clinical trial approval comes from the Public Health Agency of Canada.
- That means the study will take place in Canada.
- It will include up to 48 healthy patients for the single-ascending dose and 24 healthy patients for the multiple- ascending dose.
- Aptorum is a pharmaceutical company focused on the development and commercialization of treatments for diseases with unmet needs.
- That includes infectious diseases and cancers.
- It was founded in 2010 and joined the public market in late 2018.
- Ian Huen leads the company as its founder, executive director and CEO.
Dr. Clark Cheng, CMO and executive director at Aptorum, said this about the news boosting APM stock up today.
“This milestone supports the transition of Aptorum Group to a clinical-stage company and reflects the potential of our scientific rigor and novel approach of our products. We are dedicated to delivering novel therapeutics in the field of growing unmet medical needs of infections starting with Staphylococcus aureus.”
APM stock was up 15.5% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.