Shares of the anti-aging biogenetics company Klotho Neurosciences, Inc. (NASDAQ:KLTO) are on retail investors' radars after the stock exploded by more than 500% in June. Here's a look at recent catalysts that sent the stock soaring.
What to Know: Klotho Neurosciences works to develop therapies for neurodegenerative diseases, including ALS, Alzheimer's, and Parkinson's, with the original discoverer of the Klotho gene, according to Professor Makoto Kuro-O, who serves as a scientific advisor.
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The stock's recent rally began in early June, when the company announced positive results from a preclinical trial that showed the elevation of the Klotho gene’s expression could potentially reduce age-related degeneration across multiple organs, thereby increasing both lifespan and health span.
Klotho later announced a research partnership with scientists at the Okinawa Research Center for Longevity Science in Okinawa, Japan, a well-known “longevity hotspot.”
The company also raised more than $11 million in June through the exercise of existing warrants and eliminated all outstanding debt, resulting in a debt-free balance sheet.
What Else: On Monday, Klotho announced it is proceeding with development work in preparation for clinical trials of its investigational gene therapy for ALS. The stock was up 60% on heavy trading volume at the time of publication.
KTLO Stock Price Action: Shares of Klotho Neurosciences were up 59% at $1.14 on Monday. The stock has gained more than 500% over the last month, according to data from Benzinga Pro.
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