NEW YORK – Synaptogenix, Inc. (NASDAQ:SNPX), a biopharmaceutical company focused on neurodegenerative diseases, has announced a collaboration with the Neuroscience Center of Excellence at LSU Health New Orleans for pre-clinical trials of polyunsaturated fatty acid (PUFA) analogs in treating spinal cord injuries (SCI). The company also reported that the US Patent and Trademark Office has recently granted a patent for these compounds.
The collaboration aims to explore the therapeutic potential of Synaptogenix's proprietary PUFA analogs, which have shown promise in pre-clinical testing for Alzheimer's disease and other neurodegenerative disorders.
These analogs activate the enzyme PKC epsilon (PKC ε), which plays a crucial role in neuroprotection and repair mechanisms. Unlike Bryostatin-1, another compound in their portfolio, the PUFA analogs interact with a different site on PKC ε.
Dr. Nicolas Bazan, Director of LSU's Neuroscience Center of Excellence, expressed enthusiasm for the upcoming studies, which will also compare the effects of the PUFA analogs with Bryostatin in SCI models. Dr. Alan Tuchman, CEO of Synaptogenix, highlighted the significance of the partnership and the potential of these drug candidates for follow-on therapies.
The company's lead therapeutic candidate, Bryostatin-1, has been under clinical and preclinical investigation for Alzheimer's disease and has been granted Orphan Drug Designation by the FDA for Fragile X syndrome. Bryostatin-1's safety profile is supported by extensive testing in over 1,500 individuals in cancer studies.
Synaptogenix's strategy includes developing and patenting a new class of compounds for neurodegenerative diseases, building on earlier positive outcomes from pre-clinical testing by Cognitive Research Enterprises, Inc. (CRE), which demonstrated the analogs' efficacy in synaptogenesis and neuroprotection.
The company cautions that forward-looking statements in the press release are subject to risks and uncertainties, and there is no guarantee of successful outcomes for the clinical program of Bryostatin-1 or the newly patented PUFA analogs. The information for this article is based on a press release statement from Synaptogenix, Inc.
In other recent news, Synaptogenix, Inc., a biopharmaceutical firm, has made significant strides in neurodegenerative disease research. The company has received authorization from the Food & Drug Administration (FDA) to proceed with a clinical trial for Bryostatin-1, a potential treatment for multiple sclerosis (MS). The trial will be conducted at the Mellen Center for Multiple Sclerosis, part of the Cleveland Clinic Neurological Institute.
Bryostatin-1 is believed to activate protein kinase C enzymes that play a crucial role in maintaining synaptic health and memory functions. It has also shown potential in preclinical studies to reduce inflammation and protect nerve fibers. Synaptogenix is well-positioned to fund the Phase 1 trial for MS, with a solid financial standing, including $26.3 million in cash.
In addition to the MS trial, Synaptogenix continues to develop Bryostatin-1 for other indications and is exploring additional innovative assets. The company has a history of investigating Bryostatin-1 for various neurodegenerative diseases, including Alzheimer's and Fragile X syndrome.
Furthermore, Synaptogenix has regained compliance with Nasdaq's minimum bid price requirement, securing its continued listing on the Nasdaq Capital Market. This was achieved through a strategic execution of a 1-for-25 reverse stock split to elevate the trading price of its common stock.
InvestingPro Insights
Synaptogenix, Inc. (NASDAQ:SNPX) has recently made strides in the biopharmaceutical arena with its innovative approach to treating neurodegenerative diseases. As investors consider the implications of the company's latest collaboration and patent acquisition, it's essential to weigh the financial metrics and strategic positions that could impact its stock performance.
InvestingPro Data indicates a market capitalization of $5.52 million, reflecting the company's current valuation in the market. The financials reveal a challenging picture, with an adjusted P/E Ratio for the last twelve months as of Q1 2024 at -0.45, suggesting that investors are wary of the company's earnings potential. Moreover, the company's EBITDA Growth over the same period stands at 55.12%, indicating a significant increase, which could be a positive signal for future growth prospects.
Looking at the InvestingPro Tips, two critical insights emerge for potential investors. Firstly, Synaptogenix holds more cash than debt on its balance sheet, which could provide the company with a buffer to fund operations and research initiatives. This financial stability is particularly important for a biopharmaceutical firm that is in the pre-clinical trial phase, where cash reserves are crucial for sustaining development activities.
Secondly, the company is not profitable over the last twelve months, which is not uncommon for companies in the biopharmaceutical industry that are in the early stages of drug development and have yet to commercialize their products.
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