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In Tuesday’s pre-market trading, ANEW Medical, Inc. (NASDAQ:WENA) saw its shares surge nearly 80% following an announcement about the advancement of its patented Klotho gene therapy program for neurodegenerative disorders.
What Happened: ANEW, a biopharmaceutical company that specializes in developing innovative therapies for neurological and age-related disorders, was trading at $2.460 at the time of writing, up from Monday’s close at $1.450, according to Benzinga Pro data.
ANEW’s preliminary data indicates that maintaining high Klotho levels in the body could result in longer, healthier lives. Conversely, individuals with lower Klotho levels are more susceptible to neurodegenerative disorders such as ALS, Alzheimer's, and Parkinson's Disease. ANEW also intends to explore other age-related disorders associated with reduced Klotho levels.
ANEW’s development plans encompass FDA Clinical Trials, Klotho Diagnostics, and Age-Related Disorders. Dr. Shalom Hirshman, M.D., Chief Medical Advisor and Board member, expressed that ANEW is well-positioned to significantly impact the treatment of ALS, Alzheimer's, and other neurodegenerative disorders.
Why It Matters: ANEW’s advancements come amid a broader industry focus on neurodegenerative disorders. A recent study highlighted the complexities of Alzheimer’s disease.
In June, Eli Lilly received FDA approval for its Alzheimer’s therapy, Kisunla. Furthermore, they expanded their neuro pipeline with the addition of a preclinical ALS, dementia prospect. Even tech companies like Synchron Inc., backed by Jeff Bezos and Bill Gates, are entering the fray with plans to treat Parkinson’s and epilepsy.
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Photo: Courtesy of Marcin Janiec via Shutterstock
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
Posted In: WENA
