RTTNews | Feb 17, 2021 10:38AM EST

10:37 Wednesday, February 17, 2021 (RTTNews.com) - Shares of micro-cap company Inhibikase Therapeutics, Inc. (IKT) are currently gaining over 10% after the clinical-stage pharmaceutical company announced that first patients were dosed in a phase 1 clinical trial of IkT-148009 to treat Parkinson's disease.

IKT is currently trading at $8.01, up $0.95 or 13.55%, on the Nasdaq.

The Phase 1 study is investigating the safety, tolerability and pharmacokinetics of IkT-148009 in healthy volunteers aged 45 to 70 years old with the objective of identifying the maximum tolerated dose and the PK profile of IkT-148009 in single and multiple ascending dose settings.

In preclinical animal models of progressive disease, the company demonstrated that once a day oral therapy with IkT-148009 can both halt and reverse functional loss in the brain and gastrointestinal tract.

"The initiation of our Phase 1 study of IkT-148009 for the treatment of Parkinson's disease represents a significant milestone for Inhibikase. Based on preclinical data, we believe that c-Abl plays a critical role in the Parkinson's disease process and inhibition of c-Abl represents a promising new approach to disease modification," stated Milton Werner, Ph.D., Chief Executive Officer of Inhibikase Therapeutics.

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