|Bid||0.6650 x 2200|
|Ask||0.6709 x 3200|
|Day's Range||0.6500 - 0.6800|
|52 Week Range||0.6300 - 8.4000|
|Beta (3Y Monthly)||2.21|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 5, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.00|
NEW YORK, Oct. 8, 2019 /PRNewswire/ -- Neurotrope, Inc. (NTRP), a clinical-stage biopharmaceutical company developing novel therapies for neurodegenerative diseases, today announced its plans to explore strategic alternatives to maximize shareholder value. "Following the results from our Phase 2 study of Bryostatin-1 in Alzheimer's disease, we believe a review of strategic alternatives is an important step toward preserving and enhancing shareholder value," stated Dr. Charles S. Ryan, Neurotrope's Chief Executive Officer. There can be no assurance that the formal strategic review of alternatives will result in any successful transaction or other outcome.
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Shares of Neurotrope Inc. plummeted 79% on heavy volume Monday, to below the $1 mark for the first time in six years, after the biopharmaceutical company said its Alzheimer's disease (AD) treatment failed to meet the primary endpoint of a phase 2 trial. Trading volume swelled to 4.2 million shares, compared with the full-day average of about 164,000 shares. The stock paced all the decliners on the major U.S. exchanges. The company said the confirmatory study of Bryostatin-1 in moderate to severe AD did not achieve statistical significance in change from baseline to week 13 in the severe impairment battery total score. "We are disappointed in the topline results from the confirmatory Phase 2 study," Chief Executive Charles S. Ryan. "Having just received the data, we are conducting a full review to determine potential next steps and will provide an update of our plans when appropriate." The stock has now lost 90% of its value over the past 12 months, while the iShares Nasdaq Biotechnology ETF has lost 14% and the S&P 500 has gained 3.6%.
Drug developer Neurotrope Inc's shares tumbled nearly 80% on Monday after the company said its experimental treatment for Alzheimer's disease did not meet the main goal of a mid-stage study. Neurotrope said it intends to conduct a complete review of the data to determine next steps in the treatment's development. Alzheimer's disease, which affects parts of the brain that control thought, memory and language, is a progressive condition that could seriously disrupt a patient's ability to carry out daily activities.