Appendix 4C - Q1 FY20 Quarterly

Appendix 4C - Q1 FY20 Quarterly

MELBOURNE, AUSTRALIA AND SAN FRANCISCO,

USA - 30 October 2019. Alterity Therapeutics Limited (ASX: ATH, NASDAQ: ATHE) ("Alterity" or "the Company"),

releases its Appendix 4C Quarterly Cash Flow Report and update on company activities for the quarter ending 30 September 2019 (Q1

Phase 1 clinical trial results for Alterity's

lead compound PBT434 were announced this past quarter in July. PBT434 was found to be safe and well-tolerated in its human subjects

with an adverse event profile comparable to placebo. The clinically tested doses achieved concentrations in brain that are potentially

clinically relevant.

PBT434 looks to treat Parkinsonian disorders

such as Parkinson's disease (PD) and Multiple System Atrophy (MSA). These neurodegenerative diseases result from accumulation

of aggregated alpha-synuclein protein. PBT434 was found to inhibit the alpha-synuclein aggregation, preserve neurons and improve

motor function in animal models of PD and MSA.

Alterity presented the Phase 1 results

at the MDS Congress in France on the 24th of September and at the Janney Healthcare Conference in New York City on the

10th of September. The conferences provided opportunities for the Company to network with other leaders in the industry

along with global healthcare investors.

Cash at the end of the quarter was $10.7M

compared to $14.4M in the previous quarter. Expenses predominantly related to completion of the PBT434 Phase 1 clinical trial and

pre-clinical studies for future trials into PBT434. The Company anticipates receipt of $4.8M from the Australian Taxation Office

relating to the R&D tax incentive for the 2019 financial year before the end of 2019.

Geoffrey Kempler, CEO of Alterity, said:

"Completing the Phase 1 trials for PBT434 and having positive results from the study has helped Alterity raise its profile

in the industry through events such as the MDS Congress and Janney Healthcare Conference. The Company now looks forward to updating

investors and the industry on further trials into PBT434, which will occur in due course."

Investor enquiries IR@alteritytherapeutics.com

E: dmark@we-buchan.com

About Alterity Therapeutics Limited

Alterity's lead candidate, PBT434,

is the first of a new generation of small molecules designed to inhibit the aggregation of pathological proteins implicated in

neurodegeneration. PBT434 has been shown to reduce abnormal accumulation of -synuclein and tau proteins in animal models

of disease by restoring normal iron balance in the brain. In this way, it has excellent potential to treat various forms of atypical

Parkinsonism such as Multiple System Atrophy (MSA) and Progressive Supranuclear Palsy (PSP).

For further information please visit the

Company's web site at www.alteritytherapeutics.com

Forward Looking Statements

This press release contains "forward-looking

statements" within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act

of 1934. The Company has tried to identify such forward-looking statements by use of such words as "expects," "intends,"

"hopes," "anticipates," "believes," "could," "may," "evidences" and

"estimates," and other similar expressions, but these words are not the exclusive means of identifying such statements.

Important factors that could cause actual

results to differ materially from those indicated by such forward-looking statements are described in the sections titled "Risk

Factors" in the Company's filings with the SEC, including its most recent Annual Report on Form 20-F as well as reports

on Form 6-K, including, but not limited to the following: statements relating to the Company's drug development program, including,

but not limited to the initiation, progress and outcomes of clinical trials of the Company's drug development program, including,

but not limited to, PBT434, and any other statements that are not historical facts. Such statements involve risks and uncertainties,

including, but not limited to, those risks and uncertainties relating to the difficulties or delays in financing, development,

testing, regulatory approval, production and marketing of the Company's drug components, including, but not limited to, PBT434,

the ability of the Company to procure additional future sources of financing, unexpected adverse side effects or inadequate therapeutic

efficacy of the Company's drug compounds, including, but not limited to, PBT434, that could slow or prevent products coming to

market, the uncertainty of patent protection for the Company's intellectual property or trade secrets, including, but not limited

to, the intellectual property relating to PBT434.

Any forward-looking statement made by

us in this press release is based only on information currently available to us and speaks only as of the date on which it is made.

We undertake no obligation to publicly updated any forward-looking statement, whether written or oral, that may be made from time

to time, whether as a result of new information, future developments or otherwise.

Quarterly report for entities subject

to Listing Rule 4.7B

Quarterly report for entities subject

to Listing Rule 4.7B

Introduced 31/03/00 Amended 30/09/01, 24/10/05, 17/12/10, 01/09/16

Quarterly report for entities

subject to Listing Rule 4.7B

Quarterly report for entities subject

to Listing Rule 4.7B

Quarterly report for entities subject

to Listing Rule 4.7B

Quarterly report for entities subject

to Listing Rule 4.7B

Compliance statement