Benzinga | Aug 5, 2020 03:10PM EDT

Why Alterity's Stock Is Trading Lower Today

Alterity Therapeutics (NASDAQ:ATHE) shares are trading lower on Wednesday.

This is a potential sell-off after the stock increased over 200% yesterday following the company announcing it will present at two upcoming conferences and is expected to report positive data for its treatment for Parkinson's Disorder MSA.

Alterity Therapeutics is engaged in research collaboration with Takeda for the treatment of Parkinson's disease gastrointestinal neuropathology. The company's lead drug candidate-PBT2 is being developed for the treatment of Alzheimer's and Huntington's diseases. It has also advanced a drug candidate for Parkinson's disease and other movement disorders (PBT434) and brain cancer (PBT519), which are in preclinical toxicology testing.

Alterity Therapeutics shares were trading down 15.47% to $2.90 at time of publication on Wednesday. The stock has a 52-week high of $5.15 and a 52-week low of 28 cents.