Allon Therapeutics, Inc. announced that patient treatment has been completed in the multinational pivotal phase 2/3 clinical trial that is evaluating the Company's lead product davunetide as a potential treatment for progressive supranuclear palsy (PSP), a rapidly progressing and fatal degenerative brain disease. Allon is conducting the study under a Special Protocol Assessment with the U.S. Food and Drug Administration meaning the data from this study can be used as part of a marketing approval for davunetide. Allon estimates the market potential for the first approved treatment for PSP could exceed $700 million in the U.S. and Europe.

PSP is suffered by approximately 25,000 people in the United States and 40,000 people in the European Union. The trial treated more than 300 patients at medical institutions in the United States, Canada, the United Kingdom, France, Germany, and Australia. Details can be found at clinical trials.gov.

It is based upon statistically significant human efficacy demonstrated in patients with amnestic mild cognitive impairment, cognitive impairment associated with schizophrenia, and positive biomarker data.