Immuno-oncology firm Oncotelic Therapeutics Inc (OTCMKTS:OTLC), which is involved in the development of therapeutics related to virology and oncology, has seen its stock make strong moves over the course of the past week.
Trading Data
On Wednesday, OTLC stock went up 7.41% at $0.1450 with more than 537k shares, compared to its average volume of 182k shares. The stock has moved within a range of $0.1370 – 0.1650 after opening trade at $0.1370.
Oncotelic Initiates Phase 2 Trial Evaluating OT-101 in Combination with KEYTRUDA® for Mesothelioma
The rally in the stock continued on Wednesday as investors continued to pile on to it and ended up with gains of 7%. The rally in the stock on Wednesday took the cumulative gains over the course of the past week to as much as 27%. Yesterday, the company was in focus once against after Oncotelic announced that it had sent in a critical study protocol to the United States Food and Drug Administration for initiating the Phase 2 trial of its product OT-101.
The product in question is meant for treating patients who may be suffering from Malignant Pleural Mesothelioma. The latest announcement from the company was an important one and is an indication of the fact that Oncotelic may be ready to move on to the next stage of development. Hence, it is no surprise that there is a bullish sentiment about the Oncotelic stock at this point in time. It might be a good move to add the stock to your watch lists and keep an eye on developments.
Key Quote
“This is the first of a series of planned clinical trials in patients with various solid tumors evaluating clinical benefit while also assessing a host of parameters associated with changes in the tumor microenvironment, including but not limited to T-cell infiltration, expression of various cytokines, and phenotypic and functionality changes pre-therapy versus post-therapy.” noted Dr. Anthony Maida, Chief Clinical Office – Translational Medicine.
Technical Data
OTLC stock is above the 20-Day and 50-Day Moving averages of $0.12 and $0.12 respectively. Moreover, the stock is below the 200-Day moving average of $0.20. The stock is up 6% in the past 3-month.
