Shares of Alzamend Neuro (NASDAQ: ALZN) , a biotechnology company in the pre-clinical stage, started Friday's trading 44% higher. Investors were thrilled with the positive results of a mouse toxicology study with an experimental new Alzheimer's disease treatment called AL002.
But the early gains have steadily faded away as investors realize today's announcement isn't terribly important. The stock was up just 6.5% as of 11:46 a.m. on Friday.
Alzheimer's disease (AD) affects more than 6 million Americans, and this number is on the rise. The only treatment approved to slow the progression of this fatal disease hasn't actually proved itself effective at improving patient outcomes, so demand for new drugs like AL002 is still sky-high.
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Here's Why Alzamend Neuro Stock Is Shooting Higher Today