Neurotrope Inc. said it plans to explore strategic alternatives to maximize shareholder value after its Alzheimer's disease drug fails to reduce symptoms in a phase 2 study.
Results from the study, which were announced Sept. 9, showed that Bryostatin-1 failed to best the placebo in improving cognitive deficits in patients with Alzheimer's disease.
In an Oct. 8 release, the company's CEO Charles Ryan said a review of strategic alternatives following the results from Neurotrope's drug Bryostatin-1's phase 2 study is an important step in preserving and enhancing shareholder value.
While the New York-based biopharmaceutical Neurotrope continues to determine how to proceed with the drug's development programs, its board has formed a committee to evaluate alternatives that may or may not result in any successful transactions or other outcomes.
