KUALA LUMPUR, May 16 (Bernama) -- Neuralstem Inc, a biopharmaceutical company focus on development of nervous system therapies will initiate a clinical trial for NSI-566 - Neuralstem´s lead stem cell therapy candidate - on chronic stroke in China.
It will targeted mid-2018 to begin dosing and will continue to pursue the development of their lead small molecule candidate for major depressive disorder (MDD).
"We look forward to meeting with the U.S. Food and Drug Administration in the second half of 2018 to formulate its clinical development path. We believe that our NSI-189 may also offer cognitive benefits in addition to antidepressant effects, which would distinguish it from other approved treatments for MDD," said president and chief executive officer, " Rich Daly.
The company said this in a statement which also provided a business update and reported its financial results for the first quarter ended March 31, 2018.
"We remain committed on our lead stem cell therapy candidate and pleased to complete the first surgery in the second cohort of our ongoing Phase 1 clinical trial in patients with chronic spinal cord injury," said president and chief executive officer," Daly said.
Neuralstem also announced the results from a study published on May 3, 2018 in the Annals of Clinical and Translational Neurology that support the potential of transplanted human spinal cord-derived neural stem cells (HSSC) to stabilise functions of ALS patients.
Among the financial results announced are cash position and liquidity with cash and investments was US$9.7 million at March 31, 2018 compared to US$11.7 million at December 31, 2017 which seen a decrease of US$2.0 million.
Neuralstem´s operating loss for the quarter ended March 31, 2018 was US$2.3 million compared to a loss of US$4.2 million for the comparable period of 2017 which primarily related to decreases in clinical trial and related costs.
It expects its existing cash, cash equivalents and short-term investments to fund its operations based on their current operating plans, into the first quarter of 2019.
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