Aegis Capital Corp. recently issued a ‘Buy’ rating and price target of $31 on shares of Neurotrope, Inc. (NASDAQ: NTRP). The company has completed enrollment of its phase 2b clinical trial of Bryostatin-1 for the treatment of Alzheimer’s disease. The analyst noted that the company will be driven by the data from this trial, which is expected in late April. Based on expected sales of drugs that are intended to slow the decline in cognitive function or reduce symptoms, which have achieved market valuations in the $1 billion range after positive phase 2 data in the past, the analyst believes the estimates for Bryostatin-1 are conservative.
For more information, visit www.neurotropebioscience.com
Neurotrope is engaged in developing a novel therapy to treat and potentially reverse moderate to severe Alzheimer’s dementia and other neurodegenerative diseases. The scientific basis of the company’s treatment is activation of Protein Kinase C isozymes ε and α by bryostatin-1, a natural product, which in mouse Alzheimer’s disease models was demonstrated to result in repair of damaged synapses as well as synaptogenesis, the induction of new neuronal networks, reduction of toxic beta-amyloid generation, prevention of neuronal death, and enhancement of memory and learning, thus having the potential to improve cognition and behavior in Alzheimer’s dementia. Neurotrope is conducting a phase 2 trial of bryostatin-1 in the treatment of moderate to severe Alzheimer’s dementia, as well as preclinical studies of bryostatin-1 as a treatment for Fragile X Syndrome, Niemann-Pick Type C disease and Rett Syndrome, three rare genetic diseases for which only symptomatic treatments are currently available. The FDA has granted Orphan Drug Designation to Neurotrope for bryostatin-1 as a treatment for Fragile X Syndrome. Bryostatin-1 has undergone testing in over 1,500 people establishing a large safety database.
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