Alterity Therapeutics (ATHE) said Thursday that data from a 77-patient phase 2 clinical trial of its drug ATH434 for the potential treatment of multiple system atrophy slowed disease progression.

Chief Executive David Stamler said the ongoing double-blind trial showed a stabilization of orthostatic hypotension, a symptom of multiple system atrophy, at 52 weeks.

According to the analysis, ATH434 resulted in a clinically significant reduction in disease severity in comparison with a placebo at both dose levels, with a 48% relative treatment effect at the 50mg dose and a 30% relative treatment effect at the 75mg dose at 52 weeks, the company said.

"This new analysis continues to support our belief that ATH434 has great potential to treat this devastating disease," Stamler said.

Multiple system atrophy is a disorder similar to Parkinson's disease.

ATH434 has already been granted fast-track designation by the US Food and Drug Administration and orphan drug designation by both the FDA and the European Commission for the treatment of multiple system atrophy, the company said.