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Synaptogenix, Inc. (NASDAQ: SNPX) is an emerging clinical-stage biopharmaceutical company focused on the development of innovative therapies for neurodegenerative diseases. The company leverages its lead drug candidate, Bryostatin-1, in addressing various challenging conditions such as Alzheimer's disease, Fragile X syndrome, multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS), and traumatic brain injury.
Synaptogenix is currently conducting clinical and preclinical trials to evaluate the efficacy and safety of Bryostatin-1. This drug, which activates protein kinase C (PKC), has shown potential in promoting synaptic growth, reducing inflammation, and aiding cognitive function. Recent achievements include partnering with the Cleveland Clinic for a Phase 1 trial of Bryostatin-1 aimed at cognitive impairment in MS and discovering potential benefits in treating ALS.
The company has also gained significant attention from the research community, with notable publications in esteemed journals like the Journal of Alzheimer's Disease and involvement in high-profile scientific forums. Leveraging its substantial financial resources, Synaptogenix continues to explore additional therapeutic avenues and partnerships, including a significant stake in Cannasoul Analytics, aiming to develop cannabinoid-based treatments.
Synaptogenix’s financial health is stable, bolstered by approximately $35.8 million as of March 31, 2023, and $33 million as of June 30, 2023, ensuring continuous development of its drug candidates. The company's recent reverse stock split aligns with strategic efforts to maintain NASDAQ compliance and increase stock value.
Synaptogenix, Inc. (SNPX) reported promising secondary endpoint results from an NIH-sponsored Phase 2 clinical trial of Bryostatin-1 in advanced Alzheimer's disease patients. The company has approximately $37.5 million in cash as of December 31, 2022, maintaining a robust financial position. The Phase 2 trial results showed statistical significance in secondary endpoints for the most severe Alzheimer's patient population (MMSE-2 scores of 10-14), indicating potential efficacy. Synaptogenix aims to explore acquisition opportunities and continue collaborations with strategic partners to enhance shareholder value.
Synaptogenix, Inc. (Nasdaq: SNPX) announced topline results from its NIH-sponsored Phase 2 clinical trial of Bryostatin-1 for advanced Alzheimer's disease. The trial failed to meet its primary endpoint, showing an average increase in the Severe Impairment Battery (SIB) score of only 1.4 points for the treatment group compared to 0.6 points for the placebo group at week 28. CEO Alan Tuchman expressed disappointment and indicated a review of the trial data to determine next steps. The company remains well-capitalized, holding approximately $38.5 million in cash as of December 15, 2022.
Synaptogenix has announced a private placement financing raising approximately $15 million through convertible redeemable preferred stock and warrants from existing investors. This financing is set to close on November 21, 2022, enhancing the company's balance sheet ahead of expected Phase 2 clinical trial results for Alzheimer's disease this December. The preferred stock has a conversion price of $7.75 per share, representing a 25% premium to the previous closing price, and warrants for 1,935,485 additional shares. The company plans to file a registration statement with the SEC for the resale of shares.
Synaptogenix, a biopharmaceutical company focused on neurodegenerative disorders, is set to present at the ThinkEquity Conference on October 26, 2022, at the Mandarin Oriental Hotel in New York. Dr. Daniel L. Alkon, President and Chief Scientific Officer, will discuss the company's NIH-supported Phase 2 clinical trial of Bryostatin-1 for treating advanced Alzheimer's disease. Topline data from this trial is expected in the current quarter. The company aims to develop therapies that improve Alzheimer's patients' conditions and prevent disease progression.
Synaptogenix, Inc. (Nasdaq: SNPX) announced that it anticipates results from its Phase 2 clinical trial of Bryostatin-1 for advanced Alzheimer's disease in Q4 2022. The company highlights its commitment to restoring cognitive function, contrasting its approach with Biogen and Eisai's method of slowing disease progression. Bryostatin-1 aims to regenerate synaptic networks, potentially leading to improved cognitive performance. The lead compound has been previously tested in over 1,500 individuals, providing a strong safety database to guide future clinical trials.
Synaptogenix, Inc. (Nasdaq: SNPX) announced that Dr. Daniel L. Alkon, President and CSO, will appear on TD Ameritrade Network's "Trading 360" on August 12, 2022, at 10:30 AM Eastern. Dr. Alkon will discuss the advancement of treatments for Alzheimer's disease and the Phase 2b clinical trial of the lead drug, Bryostatin-1. Synaptogenix holds Orphan Drug Designation for Bryostatin-1 for treating Fragile X syndrome. The Company emphasizes ongoing clinical developments and the potential future applications of Bryostatin-1 in neurodegenerative diseases.
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