NeuroSense Therapeutics (NASDAQ:NRSN) is serving up some terrific news for shareholders today. The company just released positive results from the Stage III study of its ALS treatment candidate, PrimeC. NRSN stock is now up roughly 60%.
PrimeC is a combination drug therapy that both the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) have granted an Orphan Drug Designation. NeuroSense has also already completed a Phase IIa clinical study for PrimeC. Now, they are evaluating the drug in a Phase IIb PARADIGM study.
The stakes are high here — not just for the shareholders, but also for selected ALS patients. According to NeuroSense Therapeutics, more than 5,000 patients are diagnosed with ALS in the U.S. each year. Experts expect the number of ALS patients to “grow 24% by 2040 in the U.S. and EU.”
There’s good news afoot, however. The results from the Stage III study showed a “statistically significant” decline in disease-related biomarkers in patients treated with PrimeC. This result contrasts ALS patients treated with the current standard of care.
What’s Happening with NRSN Stock?
The timing of this news couldn’t be better — not only for the medical community, but for NRSN stock investors as well. Shareholders certainly needed a boost. The stock had fallen from around $6 in March to just $1.70 as of yesterday’s close.
Now trading above $2 per share, NRSN stock may be headed for a full recovery. That’s not guaranteed, of course. But CEO Alon Ben-Noon seems quite confident in the company’s future prospects:
“These results are very encouraging, especially in that they validate NeuroSense’s clinical strategy. The biomarker study, along with the data we collect from our Phase IIb study, will inform the optimization of a pivotal Phase III study of PrimeC in ALS.”
Shiran Zimri, Head of Scientific Programs at NeuroSense, also said that the company is looking forward to “sharing more detailed results” at the World Orphan Drug Congress from July 11 to July 13. Investors may want to mark their calendars for that date.
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On the date of publication, David Moadel did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.