The Neuroscientific Biopharmaceuticals Ltd (ASX: NSB) share price skyrocketed 190% on Tuesday after news that the company's flagship drug EmtinB was part of a successful study into the treatment of Alzheimer's disease as well as a range of other neurological conditions such as spinal injuries, Multiple Sclerosis, Parkinson's Disease, and Amyotrophic Lateral Sclerosis.
NSB shares had been in a trading halt since Monday, but upon release if its results, the NSB share price has risen from 14 cents per share to 42 cents at close of trading yesterday, a rise of around 190%.
Neuroscientific Biopharmaceuticals stated in its release to the ASX that "the company is pleased to report the results of a breakthrough study that paves the way for a new effective way to treat Alzheimer's, our lead indication. The study also points towards ability of EmtinB to be a powerful avenue to help patients by developing drugs for several other neurodegenerative diseases".
On the potential success of EmtinB, the company also stated that "the highest dose of EmtinB significantly stimulated regeneration of nerve cells by more than 300% in comparison to controls incubated with sterile water".
Neuroscientific Biopharmaceuticals also claims that EmtinB is twice as effective as the current market-leading drug for Multiple Sclerosis, of which $4 billion is sold annually. The company has ongoing pre-clinical efficacy, safety and toxicology studies and has informed the market to expect results from these soon. Although the study so far had been testing the EmtinB product on rat nerve cells, the first human studies will begin this quarter.
