The long and much awaited moment for Neurotrope Inc (OTCMKTS:NTRP) has finally arrived as the company has announced that FDA has given it DA Orphan drug destination. According to reports, the orphan drug destination has been given to its wholly owned subsidiary Neurotrope BioScience, Inc. The announcement was much appreciated by the investors as Neurotrope Inc surged by 8.93% after this announcement as touched $1.22 mark in the stock market.
Insights On The Announcement:
The primary reason behind FDA’s decision to assign this destination to Neurotrope BioScience is bryostatin, its lead proprietary drug candidate. As per the reports, the company used it in the treatment of Fragile X Syndrome; hence, FDA considered it as the basis for the orphan drug destination and executed the procedure swiftly.
Bryostatin is one of the most preferred drug candidates in medical science. As per the reports, it is also used as a Protein Kinase C activator. Neurotrope thinks that it’s a viable and right approach to treat Fragile X Syndrome in any situation. In order to make things easy and hassle-free, Neurotrope and Blanchette Rockefeller Neuroscience Institute have entered into a licensing agreement, which allows the former to develop bryostatin in its in-house lab.
The entire senior management team of Neurotrope is delighted to have the orphan drug destination. According to company’s President and CEO Charles S. Ramat, Neurotrope Inc (OTCMKTS:NTRP) had tried its best to achieve the success. This achievement is dedicated to those who worked selflessly for several months to make the real change.
FDA has decided to assign orphan drug destination because of bryostatin use by Neurotrope to treat FXS in a hassle-free way. Neurotrope’s success in this experiment will directly affect to hundreds of thousands of those patients who are forced to live with this genetic disorder for the lifetime and then die hopelessly.