Positive news with regards to any product in a pharmaceutical company’s pipeline can prove to be a big positive for its stock and hence, it was no surprise that the Acer Therapeutics Inc (NASDAQ:ACER) stock rallied by as much as 16.50% yesterday.
The rally in the stock came about after the company made a major joint announcement with its collaboration partner Relief Therapeutics Holding SA with regards to its Urea Cycle Disorders product ACER 001. The company announced that the United States Food and Drug Administration has granted the company the right to file for a New Drug Application for the product.
However, that was not all and in fact there was more good news for Acer. The FDA also provided the company with a target action date of June 5, 2022 for Prescription Drug User Fee Act (PDUFA).
These are all significant developments and take the company a step closer to getting its product to the market. Hence, the rally in the stock is understandable. However, it is also important to point out that it remains to be seen if the Acer stock can manage to hold on to its momentum today.
