(RTTNews) - Alterity Therapeutics Limited (ATHE), Monday announced that the US Food and Drug Administration has granted Fast Track designation for ATH434 for the treatment of Multiple System Atrophy, a rare, neurodegenerative disease.
The designation was based on the findings related to ATH434's mechanism of action and the robust and clinically meaningful efficacy from double-blind Phase 2 clinical trial.
The company expects the designation to accelerate the development and review of ATH434.
In the pre-market hours, Alterity's stock is trading at $3.37, down 0.59 percent on the Nasdaq.
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