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Stock Alert: Aptorum Up 30% On Clearance To Initiate Phase 1 Trial Of ALS-4 In Canada

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(RTTNews) – Shares of Aptorum Group Ltd. (APM) jumped over 30% on Wednesday morning after the company received clearance from Canada health regulator to commence a phase 1 trial of ALS-4 for infections caused by staphylococcus aureus.

APM is currently trading at $4.21, up $1.03 or 32.39%, on the Nasdaq.

Aptorum, a biopharmaceutical company focused on infectious diseases, announced that it received clearance from the Public Health Agency of Canada regarding the Clinical Trial Application to commence a Phase 1 study of ALS-4, an orally administered small molecule drug intended to treat infections caused by Staphylococcus aureus including MRSA.

The Phase 1 trial is planned to be conducted in Canada and targeted to recruit up to 48 and 24 healthy volunteers for the single-ascending dose and multiple- ascending dose cohorts, respectively.

The primary objective of the trial is to evaluate the safety and tolerability of of ALS-4 administered orally to healthy subjects.

The secondary objective is to assess the pharmacokinetic profile of ALS-4 administered orally to healthy subjects.