NEW YORK, NY / ACCESSWIRE / September 27, 2017 / Shares of Axovant were clobbered yesterday after the company released an update on its late-stage Alzheimer?s trial that revealed the trial did not meet its co-primary endpoints. Shares of Moleculin saw green after the FDA authorized the company to begin clinical trials of its candidate Annamycin, for relapsed Acute Myeloid Leukemia (AML).

RDI Initiates Coverage on:

Axovant Sciences Ltd.
https://rdinvesting.com/news/?ticker=AXON

Moleculin Biotech, Inc.
https://rdinvesting.com/news/?ticker=MBRX

Axovant Sciences Ltd.'s shares were destroyed in Tuesday trading, ending the day down 73.90% and hitting a new low of $6.13 during intra-day trading. It was early yesterday that company announced a disappointing update from its late-stage Alzheimer's trial. The trial did not meet its co-primary endpoints. CEO David Hung commented, "While we are deeply disappointed by these trial results, we also are saddened for the millions of patients and families impacted by Alzheimer's disease. However, we believe that the fight against Alzheimer's and other important areas of unmet need in neurology is too important to be derailed by this setback. We are grateful to the investigators, patients, and caregivers who participated in this important trial and supported us in this journey. Moreover, we remain committed to advancing our pipeline, which includes our Phase 2b HEADWAY study of intepirdine, and nelotanserin, our highly selective inverse agonist of the 5-HT2A receptor in Phase 2 development, both of which are being evaluated in patients with dementia with Lewy bodies." Intepirdine is being studied in the Headway trial in patients that have dementia with Lew bodies. It has received Fast Track designation from the FDA for the treatment of dementia with Lewy bodies. Volume was significant yesterday at over 37 million shares traded compared to an average of around 700,000 shares.

Access RDI's Axovant Sciences Ltd. Research Report at:
https://rdinvesting.com/news/?ticker=AXON

Moleculin Biotech, Inc.'s shares closed up 10.37% on Tuesday with nearly 6 million shares traded. The stock hit a high of $3.23 during intra-day trading and saw gains over 3% in after-hours trading after it was revealed that the FDA has authorized the group to begin clinical trials of candidate Annamycin for relapsed or refractory Acute Myeloid Leukemia ( AML). CEO Walter Klemp commented, "This represents a tremendous milestone for Moleculin. Our primary focus has been to get Annamycin back into the clinic so we can begin optimizing the dosing of the drug as the next step in evaluating its potential to become the first 2nd line therapy suitable for the majority of relapsed or refractory AML patients. It is a thrill to now refer to Moleculin as a 'clinical-stage' company."

Access RDI?s Moleculin Biotech, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=MBRX

Our Actionable Research on Axovant Sciences Ltd. (NASDAQ: AXON) and Moleculin Biotech, Inc. (NASDAQ: MBRX) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com