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Why Is Gain Therapeutics (GANX) Stock Moving Today?

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  • Gain Therapeutics (GANX) stock is up after announcing new clinical trial news.
  • That includes the first dosings in its Phase 1 clinical trial of its Parkinson’s disease treatment.
  • The company expects the trial to end next year.
GANX Stock - Why Is Gain Therapeutics (GANX) Stock Moving Today?

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Gain Therapeutics (NASDAQ:GANX) stock is on the move Wednesday as investors react to updated clinical trial news from the company.

According to a press release from Gain Therapeutics, the company has started dosing the first two subjects in its Phase 1 clinical trial. This clinical trial covers GT-02287, which is the company’s lead candidate for the treatment of GBA1 Parkinson’s disease.

Gain Therapeutics has high hopes for GT-02287 based on preclinical data. It has shown potential for being able to restore functions of lysosomal enzyme glucocerebrosidase. These becoming misfolded is the most common genetic risk factor for Parkinson’s disease.

Matthias Alder, CEO of Gain Therapeutics, said this about the news:

“Initiating first-in-human dosing with GT-02287 is an important milestone for Gain as we enter a new era as a clinical-stage company. This represents another major step forward toward providing a treatment for Parkinson’s patients and their families impacted by this devastating disease.”

Investors wanting more information about the treatment will have to wait until the trial’s results come in. The company expects to complete Phase 1 of the study in the first half of 2024.

GANX Stock Movement on Wednesday

GANX stock isn’t seeing much in the way of trading activity on Wednesday, but its shares have already been on a wild ride. The company’s stock saw a major drop during pre-market hours, going as low as 60%. However, its shares are currently up slightly as of Wednesday morning.

Investors that are looking for even more of the most recent stock market stories are going to want to stick around!

We are offering up all of the latest stock market news that traders need to know about on Wednesday! A few examples include why shares of PodcastOne (NASDAQ:PODC) and Sonendo (NYSE:SONX) are up, as well as the biggest pre-market stock movers this morning. All of that news is ready to go at the links below!

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On the date of publication, William White did not have (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.


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