Summary by Futu AI
Alterity Therapeutics, a biotechnology company focusing on neurodegenerative diseases, has released its Appendix 4C Quarterly Cash Flow Report for Q3 FY24, ending March 31, 2024. The report highlights the company's progress in its Phase 2 clinical trials for its lead drug candidate, ATH434, which targets Multiple System Atrophy (MSA) and Parkinson's disease. The independent Data Monitoring Committee recommended the continuation of the ATH434-201 study without modification, citing no safety concerns. Alterity presented promising nonclinical data at the American Academy of Neurology Annual Meeting, showing ATH434's potential in reducing Parkinsonism in primate models. The company's cash balance as of March 31 was A$18.3M, following a successful capital raise of approximately A$5.25M and a Research and Development Tax Incentive Refund of A$3.9M. Operating cash outflows for the quarter were A$2.6M. The company remains on track to report preliminary data from its ATH434-202 study in Q2 2024 and topline results from ATH434-201 by January 2025.
