Shares of clinical stage biotechnology company Cyclo Therapeutics, Inc. (CYTH) are surging more than 45% Tuesday morning following positive efficacy data from the study of long term safety and efficacy of its lead drug candidate Trappsol Cyclo in Niemann-Pick Disease Type C (NPC).
The company said, all eight patients included in the study demonstrated disease stability or improvement as measured by the 17-domain NPC Severity Score scale (NPC-SS), that calculates neurologic features of the disease, including ambulation, fine motor skills, ability to speak and swallow, and cognition.
Niemann-Pick disease, that affects the body's ability to metabolize fat within cells, is characterized by progressive loss of function of nerves, the brain and other organs.
"These extension protocol data provide additional compelling support for the efficacy of our drug in this patient population, and as we launch our pivotal Phase 3 trial in early 2021," said Cyclo Therapeutics CEO and Director, N. Scott Fine.
Cyclo Therapeutics has authorization from FDA to begin enrollment in its phase 3 trial and plans to enroll the first patient early in 2021.
CYTH is currently at $6.12. It has been trading in the range of 3.4- $33.5 in the past 52 weeks.
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