IKT - Inhibikase jumps 35% as FDA lifts full clinical hold on lead candidate

2023-03-08 09:07:24 ET

• Nano-cap biotech Inhibikase Therapeutics ( NASDAQ: IKT ) added ~35% pre-market Wednesday after announcing that the FDA lifted the full clinical hold on its lead candidate IkT-148009 targeted at neurological disorder multiple system atrophy (MSA).
• The decision allows the company to move forward with its plans for a future Phase 2 clinical trial for IkT-148009 in MSA, a rare disease impacting about three individuals per 100,000 aged 50 years or older annually.
• Inhibikase ( IKT ) is also advancing two model studies for the candidate. Citing early data from one of the studies, the company said that the candidate has indicated "a substantial neuroprotective benefit," given its mechanism of action for Abelson Tyrosine Kinase inhibition.
• "With the clinical hold lifted and the IND now open, we look forward to completing these studies prior to initiation of the Phase 2a trial in this patient population," Chief Executive Milton Werner remarked.
• Inhibikase ( IKT ) shares plunged in November when the company announced the clinical hold on IkT-148009 201 program in Parkinson's disease and the IkT-148009 program in MSA. The clinical hold on Parkinson's disease program was lifted early this year.

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