UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 22, 2020
NEUROTROPE, INC.
(Exact name of registrant as specified in its charter)
| Nevada | 000-55275 | 46-3522381 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
1185 Avenue of the Americas, 3rd Floor
New York, New York 10036
(Address of principal executive offices and zip code)
Registrant’s telephone number, including area code: (973) 242-0005
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common Stock, par value $0.0001 per share | NTRP | The Nasdaq Stock Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company. ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 8.01 Other Events.
On January 22, 2020, Neurotrope, Inc. (the "Company") issued a press release providing a corporate update following the completion of its analysis of data from the Company’s Phase 2 confirmatory clinical trial. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description of Exhibits | |
| 99.1 | Press release of Neurotrope, Inc., dated January 22, 2020. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NEUROTROPE, INC. | ||
| Date: January 22, 2020 | By: /s/ Robert Weinstein | |
| Name: | Robert Weinstein | |
| Title: |
Chief Financial Officer, Executive Vice President,
Secretary and Treasurer |
|
Exhibit 99.1
Neurotrope Provides Corporate Update After Completing Bryostatin-1 Data Analysis for Advanced Alzheimer’s Disease Trial
Analysis to adjust for significant baseline imbalance in Severe Impairment Battery scores between treatment groups shows improvement in cognitive function of pre-specified Moderate Stratum patients at week 13, the primary endpoint
National Institute of Health awards $2.7 million grant to Neurotrope to conduct additional clinical research for patients with advanced Alzheimer’s disease
Company continues to explore strategic alternatives
NEW YORK, January 22, 2020 -- Neurotrope, Inc. (Nasdaq: NTRP) (“Neurotrope” or the “Company”), a clinical-stage biopharmaceutical company developing novel therapies for neurodegenerative diseases, today announced its corporate update.
The Company has completed analysis of the data (Clinical Study Report) from its recently reported Phase 2 confirmatory clinical trial (the “203 study”), examining moderately severe to severe Alzheimer’s disease patients treated with Byrostatin-1 in the absence of memantine / Namenda.
“A significant imbalance (4.8 points) in the baseline Severe Impairment Battery (“SIB”) scores occurred, by chance, between the Bryostatin-1 treatment group and placebo group,” stated Dr. Daniel Alkon, Neurotrope’s President and Chief Scientific Officer. “After consulting with our Scientific Advisory Board and statistical experts, we were advised that, in a small study such as this, a baseline imbalance could prevent a definitive analysis of Bryostatin-1 treatment versus placebo in SIB scores at the primary (Week #13) and secondary endpoints as provided in the original Statistical Analysis Plan (“SAP”),” stated Dr. Alkon.
“Due to the baseline imbalance observed in the study, and because a clear signal of benefit could be observed in the raw data from the pre-specified Moderate Stratum, we conducted a post-hoc analysis using paired data for individual patients, with each patient as his/her own control,” stated Kazem Kazempour, Chief Executive Officer of Amarex, Inc., the biostatistician retained to analyze the data from the 203 study under the SAP. For the pre-specified Moderate Stratum (i.e., MMSE-2 baseline scores 10-15), the baseline value and the week 13 value were used, resulting in pairs of observations for each patient. The changes from baseline for each patient were calculated and a paired t-test was used to compare the mean change from baseline to week 13 for each patient. A total of 65 patients had both baseline and week 13 values, from which there were 32 patients in the Bryostatin-1 treatment group and 33 patients in the placebo group. There was a statistically significant improvement over baseline (4.8 points) in the mean SIB at week 13 for subjects in the Bryostatin-1 treatment group (32 subjects), paired t-test p < 0.0076, 2-tailed.
In the placebo group (33 subjects), there was also a statistically significant increase from baseline in the mean SIB at week 13, for paired t-test p < 0.0144, consistent with the placebo effect seen in the overall 203 study. “This smaller, placebo effect could possibly be due to the imbalance observed even for the Moderate Stratum in the study,” stated Dr. Alkon. For the pre-specified Severe Stratum (MMSE-2 baseline scores 4 – 9) patients, there was no statistically significant change from baseline for either the treatment or the placebo group.
As a further test of the robustness of this Moderate Stratum benefit signal, a pre-specified trend analysis (measuring increase of SIB improvement as a function of successive drug doses) was performed on the repeated SIB measures over time (Weeks 0, 5, 9, and 13). These trend analyses showed a significant positive slope of improvement for the treatment groups in the 203 study that was significantly greater than for the placebo group (p<.01).
The Company is pleased to announce that it has been awarded $2.7 million from the National Institute of Health (“NIH”) to support an additional Phase 2 clinical study focused on the Moderate Stratum for which the Company saw improvement in the 203 study. Neurotrope looks forward to working with the NIH on the continuation of the Bryostatin program. The Company is planning to meet with the Food and Drug Administration to present the totality of the clinical program data for Bryostatin-1 (NTRP101-202 and NTRP101-203).
“I am encouraged by the NIH funding,” stated Dr. Marwan Sabbagh, Director, Cleveland Clinic Lou Ruvo Center for Brain Health, and advisor on the design of the 203 trial. “The data suggests that Bryostatin may still be considered a new approach to Alzheimer’s treatment.” Dr. Sabbagh is also a paid member of the Company’s Scientific Advisory Board.
Neurotrope continues to review several viable strategic alternatives. “We are continuing our efforts to identify the most favorable strategic alternative for the Company,” stated Charles S. Ryan, Neurotrope’s Chief Executive Officer. “The Committee has been working tirelessly in an effort to increase shareholder value. We are pleased with the progress that has been made and expect to provide additional guidance in the near future.”
About Neurotrope
Neurotrope is a clinical-stage biopharmaceutical company working to develop novel therapies for neurodegenerative diseases.
Neurotrope has conducted clinical and preclinical studies of its lead therapeutic candidate, Bryostatin-1, in Alzheimer’s disease, and preclinical studies for rare diseases and brain injury, including Fragile X syndrome, multiple sclerosis, stroke, Niemann-Pick Type C disease, Rett syndrome, and traumatic brain injury. The U.S. Food and Drug Administration has granted Orphan Drug Designation to Neurotrope for Bryostatin-1 as a treatment for Fragile X syndrome. Bryostatin-1 has already undergone testing in more than 1,500 people in cancer studies, thus creating a large safety data base that will further inform clinical trial designs.
Please visit www.neurotrope.com for further information.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include statements regarding the Company’s plans to explore strategic alternatives and the potential outcome and benefits of a potential strategic transaction, the Phase 2 study and further studies, and continued development of use of Bryostatin-1 for AD and other cognitive diseases. Such forward-looking statements are subject to risks and uncertainties and other influences, many of which the Company has no control over. There can be no assurance that the Company will be able to identify potential strategic transactions and complete any transactions it may pursue or realize the expected benefits from a strategic review or a strategic transaction, the clinical program for Bryostatin-1 will be successful in demonstrating safety and/or efficacy, that we will not encounter problems or delays in clinical development, or that Bryostatin-1 will ever receive regulatory approval or be successfully commercialized. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Additional factors that may influence or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s inability to identify potential strategic transactions and to complete any transactions it pursues, the Company’s inability to obtain adequate financing, the significant length of time associated with drug development and related insufficient cash flows and resulting illiquidity, the Company’s patent portfolio, the Company’s inability to expand its business, significant government regulation of pharmaceuticals and the healthcare industry, lack of product diversification, availability of the Company’s raw materials, existing or increased competition, stock volatility and illiquidity, and the Company’s failure to implement its business plans or strategies. These and other factors are identified and described in more detail in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2019. The Company does not undertake to update these forward-looking statements.
Contact information:
Robert Weinstein
Chief Financial Officer
Email: rweinstein@neurotrope.com
Phone: 973.242.0005 Ext.101