Adhera Therapeutics Inc (OTCMKTS:ATRX) has provided shareholders with an update on the intended development of MLR-1023 ortolimidone and MLR-1019 (armesocarb). In addition, the company issued exclusive licensing agreements for MLR-1023 and MLR-1019 for Type I diabetes and Parkinson’s disease (PD), respectively
MLR-1019 (armesocarb) is a new drug used for PD. It will also be the only one that targets the non-movement and movement-related symptoms of the disease. Armesocarb has been used as the active component in mesocarb which was used for about 37 years to treat different central nervous and psychiatric ailments. Adhera plans to conduct a phase IIa clinical trial in places with marketing registration for mesocarb, such as Eastern Europe. It will also conduct a similar study with the Investigational New Drug (IND) in the U.S
MLR-tolimidone is a lyn kinase activator that has been used with Type 2 diabetes. In phase IIa and IIb trials, 700 patients with the disease have shown tolerance to the drug. Adhera plans to work using Melior Pharmaceuticals I Inc’s IND to continue the drug’s development and test it on Type 1 diabetes.
Market Reaction:
On Monday, ATRX stock gained 48% at $0.1680 with more than 3.32 million shares, compared to its average volume of 289K shares. The stock has moved within a range of $0.1160 – 0.2800 after opening the trade at $0.1160.
