Cassava Sciences - formerly Pain Therapeutics - has rebranded itself and allocated all of its resource to a new Alzheimer's drug candidate PTI-125 and diagnostic test PTI-125Dx.
PTI-125 targets altered form of "scaffolding" protein Filamin A ("FLNA") which disrupts the normal function of neurons.
Positive data from phase 2a clinical trial has led to optimism and a spike in the share price. Further data from a follow-on trial could be available in Q120.
Alzheimer's has resisted all attempts to find a remedy to date, hence PTI-125 should be treated with caution, but this novel approach may have promise.
Pain Therapeutics finally gave up on its tamper-resistant opioid treatment Remoxy after its fourth rejection by the FDA in August 2018. (Source: Endpoints News). Management decided to rebrand as Cassava Sciences Inc. (NASDAQ: