Neuraltus Pharmaceuticals Inc. wants $30 million to run a second Phase II study of an experimental drug for Lou Gehrig’s disease that a year ago failed a mid-stage trial. The study of the Palo Alto company’s NP-001 is important since there are no approved long-term therapies for the disease, also known as amyotrophic lateral sclerosis, or ALS, that kills patients as soon as three years after diagnosis. Richard Casey, Neuraltus’ newly appointed CEO, said Wednesday at the Biotechnology Industry Organization’s investor forum that a Phase IIb trial of 300 patients with the muscle-wasting disease will start enrolling patients in the first quarter of 2014.
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