Synthetic Biologics, Inc. (NYSEMKT:SYN) Sees Unusual Market Activity
The $141 million market capped development stage drug maker Synthetic Biologics, Inc. (NYSEMKT:SYN) was forced to release a public statement on 13th February, that it will not comment on any out of the ordinary spurts or dip in the value of the company stock after its stock posted close to 30 percent increase in value during trading in the past week.
Data To Be Presented At American Academy of Neurology’s (AAN) 66th Annual Meeting
The huge spurt in the valuation on the stock, was ascribed to the 10th February announcement by the drug maker that it will be presenting updates from its ongoing phase 2 clinical trials on target drug “Trimesta™, which has been designed to treat multiple sclerosis on 29th April on the sidelines of “American Academy of Neurology’s (AAN) 66th Annual Meeting” scheduled to be held in Philadelphia. The firm noted that the data will be presented by its lead analysts under the title “A Combination Trial of Estriol Plus Glatiramer Acetate in Relapsing-Remitting Multiple Sclerosis”
The drug candidate Trimesta™ is a proprietary drug developed by Synthetic Biologics, Inc. (NYSE MKT: SYN) and is being tested against FDA set test guidelines in association with approved drug Copaxone® (glatiramer acetate injection). The drug maker has appointed the services of “Lead Principal investigator, Rhonda Voskuhl, M.D., Professor, Department of Neurology, Jack H. Skirball Chair in Multiple Sclerosis Research and Director, Multiple Sclerosis Program at University of California, Los Angeles (UCLA) School of Medicine” to assist its scientist in the testing of this drug combination.
Modalities Of The 2 Year Long Test
The phase 2 tests had recruited patients in 2012 and were concluded after 24 months in January’14. The development stage drug maker had managed to attract $8 million from “National Multiple Sclerosis Society (NMSS) in association with NMSS’s Southern California chapter, and the National Institutes of Health”.