"Microcap biotech Alterity has soared by a mammoth 1800 per cent...

"Microcap biotech Alterity has soared by a mammoth 1800 per cent in morning trade, after disclosing an agreement with the US FDA to develop its treatment for Multiple System Atrophy, a Parkinsonian disorder.The group said this morning it had received guidance from the US regulator in relation to the development pathway of its ATH434 drug, following the successful completion of its Phase 1 clinical trial last year.The stock soared from 1.7c to as much as 41c, a whopping 2311pc jump, prompting a speeding ticket from the ASX.“As there are currently no approved treatments for MSA and, therefore, no regulatory precedent regarding accepted efficacy endpoints, the FDA and Alterity will work together to develop an endpoint that is best suited for the MSA patients to be studied,” the company said.“The FDA has also encouraged Alterity to use data from a natural history study that Alterity has planned with clinical and neuroimaging experts at Vanderbilt University Medical Center in the US.”Shares in the group are halted at 32c."