Like all other IPOs this year, Cortexyme Inc (NASDAQ: CRTX) has had mixed results post listing. After the initial hype, the stock collapsed, but it is regaining its upside momentum. It’s increased upside momentum is driven by a series of positive news, both financial and in its treatments.
On the 1st of November, the company announced that, its leading investigational treatment named COR388 would be the subject of a presentation at CTAD 2019. The company also announced that it would be hosting a luncheon on the pre-clinical data touching on the treatment’s workings as well as to offer an evaluation of the phase 2/3 trials. This will happen on 4th to 7th December in San Diego.
The company also recently announced its quarterly results and used that as a platform to offer updates on its GAIN trial. The company announced that Phase 2/3 of the treatment is on track and will continue all the way into 2020. In the announcement, the company stated that top-line results from the trial would be in Q4 of 2021. Considering that trials are going well so far, investors will be looking forward to the results.
In the near-term, the company will be presenting at the Evercore ISI 2nd annual HealthCONx conference on the 3rd of December. The CEO, Casey Lynch will take part in a fireside chat that will be broadcast in a webcast. Investors will be looking forward to here progress on different aspects of the company.
From the charts, CRTX is trading in a bullish channel that started earlier in the month. Volumes remain low, a reflection of the fact that the company’s lead treatment is still undergoing studies.
About Cortexyme Inc
Cortexyme Inc is a Biopharma Company that develops therapeutics for Alzheimer’s and other diseases. The company has its headquarters in San Francisco, California.