The past week has not been particularly great for the Acasti Pharma Inc (NASDAQ:ACST) stock considering the fact that the stock has declined by as much as 5% during the period. In this situation, it might be a good idea for investors to figure out if the recent drop in the stock price might actually prove to be an opportunity to get into the Acasti stock or not.
As a matter of fact, the company was in the news yesterday after it announced its financial results for the first fiscal quarter of 2022 that ended on June 30, 2021. The company also provided some key business updates.
The company announced that back on May 7 this year it had signed a definitive agreement with regards to the acquisition of the privately held biopharmaceutical company Grace Therapeutics Inc. It was also announced that the boards of both Acasti and Grace have approved the transaction.
The acquisition could actually prove to be a major milestone for the company in the long run and to that end, Acasti also uploaded a presentation on to its website that looked into the main highlights of the deal. Investors could do well to keep an eye on the stock over the coming days.