Aileron Therapeutics (NASDAQ:ALRN) Stock Gains Momentum: Should You Still Buy?

Aileron Therapeutics (NASDAQ:ALRN) is up 4% in pre-market after announcing its Q2 2021 financial results and business highlights. Its CEO Manuel Aivado stated that it continues executing against its clinical development strategy thanks to its strong balance sheet.

 In addition, the company is advancing selective chemoprotection for p53-mutated cancer patients. During the quarter, the company initiated its first double-blind, randomized and placebo-controlled clinical study of ALRN-6924 for p53 mutated NSCL cancer patients. Aivado stated that the NSCLC trial findings would inform the ALRN-6924’s late-stage clinical development strategy.

The company will present final ALRN-6924 SCLC study findings and preliminary results from the Health Volunteer study at an upcoming scientific congress. In addition, already abstracts have been accepted for the company to present at the 2021 International Society for Experimental Haematology Meeting that will take place between August 25 and 28, 2021, and at the 2021 European Society for Medical Oncology Congress to be held on September 16-21, 2021. So in the coming weeks, ALRN is worth watching.

Market Reaction:

On Wednesday, ALRN stock fell 1% at $1 with more than 251K shares, compared to its average volume of 463K shares. The stock has moved within a range of $0.9901 – 1.0100 after opening the trade at $1.