Alterity Therapeutics (ATHE) Shares Soar 17.99% on FDA Fast Track Designation

Alterity Therapeutics (ATHE) shares surged 17.99% today, reaching their highest level since January 2025 with an intraday gain of 41.65%.

The strategy of buying ATHE shares after they reach a recent high and selling them one week later resulted in a significant loss. Over the past five years, the strategy had a return of -51.81%, with a benchmark return of -100.00% and an excess return of 48.19%. The strategy's CAGR was -25.32%, indicating a decline in value, and had a maximum drawdown of 0.00%, suggesting that the strategy minimized losses during market downturns. However, the strategy had a high volatility of 79.22% and a Sharpe ratio of -0.32, indicating significant risk and moderate returns.

Alterity Therapeutics (ATHE) experienced a significant stock price increase, primarily fueled by the FDA granting Fast Track designation for their lead drug ATH434, which targets Multiple System Atrophy (MSA).

Additionally, promising new data related to ATH434 was presented at the Society for Neuroscience 2024, indicating progress and potential in their treatment pipeline. These developments contributed to the positive market response.