Shares of clinical-stage biopharmaceutical company Synaptogenix SNPX stock plunged on Friday after its Phase 2 trial for treating advanced Alzheimer’s disease failed to meet statistical significance. Its failure represents a repudiation of its main thesis, which aimed for cognitive restoration through the reduction of neurotoxic amyloid accumulation.
The company develops a product platform based on bryostatin-1 for the treatment of Alzheimer’s disease and other neurological disorders. It also engages in the development of bryostatin analogs for the treatment of fragile X syndrome and multiple sclerosis.
Company Overview
Synaptogenix SNPX stock a clinical-stage biopharmaceutical company that is developing a drug platform based on bryostatin for the treatment of neurodegenerative diseases. The company’s primary product candidate is currently in clinical testing for Alzheimer’s disease, and it has additional restorative therapeutics in development that target other neurodegenerative and cognitive disorders.
On Friday, SNPX stock tanked by more than 70% as a result of its disclosure that its Phase 2 trial of bryostatin-1 for the treatment of advanced Alzheimer’s failed to meet statistical significance on the primary endpoint of improvement in patients’ cognitive performance. While this may seem like a simple case of sector volatility, it’s arguably more related to the fact that Synaptogenix’s clinical miss represents a repudiation of the main thesis associated with Alzheimer’s research.
As a result, SNPX stock has received a Bearish sentiment reading from InvestorsObserver. This sentiment is derived from the stock’s beta and correlation to the broad-based SPY ETF. This means that SNPX stock is more likely to move in a downtrend than the average market index. If you’re looking to invest in SNPX stock, you should consider using our Sentiment Analysis tool for a free evaluation of its current rating. You can also learn more about SNPX by visiting its website.
Financials
Located in Seattle, Washington, snpx stock (NASDAQ: SNPX) is a biopharmaceutical company focused on developing therapeutics for patients with neurodegenerative diseases and developmental disorders. The company specializes in the development of Bryostatin-1, a natural product that has a variety of uses including anti-inflammatory and cellular adhesion enhancement.
The company has a solid track record of clinical trials and is in the midst of developing multiple products for a variety of indications. Founded in 2015, the company has a strong scientific and management team and a robust research and development pipeline.
The company’s website offers a wealth of information for investors, including the latest company news and financial documents. The company also boasts an extensive investor relations program that includes social media, quarterly and annual earnings releases, and a public forum for discussion of company matters. The site is powered by an in-house content curation team that is a gold mine of relevant information.
Management
One of the more interesting aspects of a biotech firm is the management of its many experimental and pre-clinical programs. The management of Synaptogenix is no exception, with a small but select group of high-profile individuals at the top of the ladder.
This high level of focus on a handful of key projects is what sets Synaptogenix apart from the pack. The most recent influx of top talent has refocused the company on its core competency of developing a proprietary protein kinase C (PKC) agonist that may be the next big thing in treating neurodegenerative diseases such as Alzheimer’s and other disorders.
Clinical Trials
SNPX stock is currently in the midst of conducting a clinical trial for its lead drug, bryostatin, which has shown promise in reducing symptoms and improving cognition in Alzheimer’s disease. Synaptogenix has initiated a Phase 2 study to assess the effectiveness of the drug in 100 patients who are not taking Namenda (memantine).
The trial is a double-blind, placebo-controlled study and will involve a single 20-microgram dose of bryostatin administered by intravenous infusion over 45 minutes every other week. Subjects will receive two initial loading doses of 24 micrograms and a further 7 doses over 12 weeks followed by a second identical course of treatment beginning 30 days after the first course.
Compared to other therapeutics used to treat AD, bryostatin activates PKC at low doses and downregulates it at higher doses. At the same time, it stimulates BDNF production. This is a promising combination and is why the company has conducted a number of successful trials on this compound.
Bryostatin
Bryostatin was found to be effective at a dosage of 25 micrograms/m2 in 6 subjects in the first Phase 2 trial. It showed a significant improvement in the MMSE score at 3 hours after the infusion as compared to the placebo group.
Based on this positive result, the company decided to move forward with the current Phase 2 trial and continue to pursue the drug as a potential treatment for Alzheimer’s disease. This study is being conducted in 28 clinical sites in the US and Europe.
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The company plans to begin another double-blind, placebo-controlled Phase 2 study in 2020. The study will be conducted on 100 AD patients with moderately severe dementia. The trial will be conducted over a period of 28 weeks and will include cognitive testing at intervals throughout the study and 4 months after the end of the last dose of bryostatin. The primary endpoint of this trial is the change in the Severe Impairment Battery total score from baseline at week 28 after the second course of treatment.
Stock Price
Synaptogenix stock price is currently at $1.19, and it is trading above its average SMA of $1.12 and above its short-term average SMA of 1.12. It has traded above its long-term average for the last 20 days, and it is currently trading above its short-term average for the last 3 months (TTM).
In terms of volatility, SNPX stock is relatively volatile. Its daily standard deviation is -0.82%, and it has traded above its 10-day and 20-day standard deviations for the last 5 days. It is also above its 200-day moving average, which is -1.12%, and above its 50-day moving average, which is -2.12%.
SNPX stock has a beta of 2.01, which means that it is more sensitive to market movements than most stocks. Its market cap is currently 6.848,046, and it has a price-to-earnings ratio of -2.12 USD over the trailing 12 months.
The current market price of SNPX stock is -0.88% below its 52-week high, and is trading above its average SMA of $1.12. Its average volume is 2.27 million shares, and it has traded above its SMA for the last 20 days. Its consolidated close price is $0.10, and it has traded above its consolidated open price for the last 7 days.
During market hours, you can get real-time prices from Cboe BZX Exchange. Its quote overview page shows you a snapshot view of the latest trades and reflects consolidated prices.
