Conference Call To Be Held Thursday, May 15, 2008 at 9:00 a.m. Eastern Time
HOPKINTON, Mass., May 14 /PRNewswire-FirstCall/ -- Alseres
Pharmaceuticals, Inc. (Nasdaq: ALSE) today reports operational and
financial results for the quarter ended March 31, 2008 and provides further
information for fiscal year 2008. Recent highlights include:
- Encouraging 12 month interim results from the Phase I/IIa Cethrin(R)
clinical trial in acute spinal cord injury
- Entry into an option agreement which provides the Company with an
option to amend its Cethrin license to lower milestone payments and
royalty rates in exchange for a fee
- Expansion of sites for the first stage of the Parkinson's or Essential
Tremor, or POET-2, Altropane(R) Phase III clinical trial program
- $5 million raised in March 2008
"Our programs continue to show promising progress," said Peter G. Savas, Chairman and Chief Executive Officer of Alseres. "We are encouraged by the unprecedented sensory and motor recovery seen in patients treated with Cethrin in our Phase I/IIa clinical trial. Key opinion leaders with whom we have spoken are highly impressed by the efficacy findings in the study. Armed with these results and after discussions with regulatory authorities and expert advisors, we were able to reduce the planned size of our Phase IIb clinical trial from 200 patients to a maximum of 100 patients providing us with potential time savings and cost reductions."
(Logo: http://www.newscom.com/cgi-bin/prnh/20070608/NEF043LOGO)
"We plan to start this trial in acute cervical spinal cord injury
patients in the seco
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| SOURCE Alseres Pharmaceuticals, Inc. Copyright©2008 PR Newswire. All rights reserved |