Maxim Group analyst Michael Okunewitch maintained a Buy rating on Alzamend Neuro (ALZN – Research Report) yesterday and set a price target of $1.00.
Michael Okunewitch’s Buy rating for Alzamend Neuro is based on a set of factors. Primarily, Okunewitch recognises Alzamend Neuro as an emerging clinical-stage biopharmaceutical company, which is actively developing innovative solutions for the treatment of Alzheimer’s disease, bipolar disorder, major depressive disorder and other mental health conditions. Furthermore, Okunewitch notes that Alzamend Neuro recently announced its intention to proceed with a P2a study of AL001, an investigational drug for Major Depressive Disorder, following FDA approval. This development comes after successful outcomes from previous studies which indicated the potential efficacy of AL001 in treating bipolar disorder.
The Buy rating is also influenced by the unique formulation of AL001, a novel cocrystal version of lithium, which holds promise for treating various central nervous system diseases. This new formulation is designed to maintain or enhance the therapeutic benefits of lithium while minimizing safety risks often associated with traditional lithium usage. Okunewitch also points out the persisting demand for improved treatments for major depressive disorder due to the inadequacy of current antidepressants, and the fact that lithium has shown significant anti-suicidal effects in long-term treatment in patients with depression. Lastly, Okunewitch highlights that AL001 is designed to deliver a greater concentration of lithium to the brain with a lower level in plasma, which could potentially improve safety and reduce the need for therapeutic drug monitoring. This unique delivery method contributes to the overall optimism around Alzamend Neuro’s ongoing developments.
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Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALZN in relation to earlier this year.
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Alzamend Neuro (ALZN) Company Description:
Alzamend Neuro Inc is an early clinical-stage biopharmaceutical company focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders. Its pipeline of product candidates consist of two novel therapeutic drug candidates namely AL001 a patented ionic co-crystal technology delivering a therapeutic combination of lithium, proline and salicylate, and; AL002 a patented method using a mutant peptide sensitized cell as a cell-based therapeutic vaccine that reduces beta-amyloid plaque and seeks to restore the ability of the patient’s immunological system to combat Alzheimer’s.
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