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NeoTherapeutics Says Drug Helps Alzheimer's Patients

October 27, 2000|Dow Jones

NeoTherapeutics Inc., an Irvine biopharmaceutical company, said Thursday that data from a clinical study showed that Alzheimer's patients who took Neotrofin had a statistically significant improvement over the course of 90 treatment days.

After the company's news release, the stock rose 75 cents, or 11%, to close at $7.75 in Nasdaq trading. The price went as high as $8.06 a share.

The improvement came in what is called the neuropsychiatric inventory rating scale, a test that measures behavioral symptoms such as psychosis, aggression and hallucinations.

NeoTherapeutics said Neotrofin appeared to significantly reduce symptoms. The complete analysis of data extended and confirmed the study's preliminary results, which were presented in July.

The company said longer trials will be required to determine whether Neotrofin simply provides symptomatic relief or causes true modification of the course of the disease.

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