Pharma stocks and the biotech sector can offer explosive gains. It also offers incredibly crushing defeats in which share prices decline precipitously.
The biotech sector never fails to offer up stocks full of massive issues at any given time. Developing novel therapeutic devices and pharmaceuticals is, after all, very expensive.
Here is how Axcella Health Inc. (AXLA) and Clover Health Investments, Corp. (CLOV) have performed compared to their sector so far this year.
Axcella Health (NASDAQ: AXLA ) stock is taking a beating on Friday after the biotechnology company announced plans for a reverse stock split. According to Axcella Health, shares of AXLA stock are going to undergo a one-for-25 reverse split.
Axcella Health (NASDAQ: AXLA ) stock is falling on Thursday following its announcement of a new Covid-19 treatment patent. However, it's not that this is bad news for the clinical-stage biotechnology company.
Axcella (AXLA) shares surge 299% after the company secures a methods-of-use patent for its lead candidate, AXA1125, which is currently under development to treat fatigue associated with Long Covid.
A little-known penny stock is among the market's top movers today. Axcella Health (NASDAQ: AXLA ) stock surged by as much as 280% on news that it has been granted an important new patent.
Axcella Health Inc (NASDAQ:AXLA) saw its stock rocket some 240% higher in Tuesday's early deals after the small-cap firm announced it had secured a patent for its treatment for ‘long' Covid fatigue. The company, in a statement, said its treatment candidate AXA1125, based on compositions of ‘endogenous metabolic modulators' (otherwise referred to as EMMs) had been granted a patent from the US Patent and Trademark Office.
Axcella Health (NASDAQ: AXLA ) stock is rocketing higher on Tuesday despite a lack of news from the clinical-stage biotechnology company. There are no new press releases or filings with the Securities and Exchange Commission (SEC) that would act as a catalyst for today's rally.