Cyclo Therapeutics Adds 5% After Submitting IND To Evaluate Trappsol Cyclo For Alzheimer’s Disease
Shares of Cyclo Therapeutics, Inc. (CYTH) gapped up more than 5% on Tuesday morning.
Today, the company said it has submitted investigational new drug (IND) application to the FDA for a Phase 2 study of Trappsol Cyclo for the treatment of early Alzheimer’s Disease (AD).
The Company’s Trappsol Cyclo, an orphan drug designated product in the United States and Europe, is also under studies in Niemann-Pick Disease Type C, a rare and fatal genetic disease.
“We are excited to have submitted our Initial IND to evaluate Trappsol Cyclo for the treatment of Alzheimer’s Disease. The feedback and recommendations received from our Type B Meeting with the FDA have provided valuable input that we believe positions us for success in advancing this asset,” commented Michael Lisjak, Chief Regulatory Officer, Senior Vice President for Business Development of Cyclo Therapeutics.
Currently, CYTH is at $7.41. It has traded in the range of $3.40- $17.75 in the last one year.
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