Neuropathix Inc. (OTCMKTS:NPTX) is up 18% in a week. The company’s CEO, Dean Petkanas, has released a letter to shareholders giving details of the company’s recent milestones, research updates, and financial position.Neuropathix’s stakeholder pool continues to expand, with long-term investors providing additional support, including the latest bridge financing.
Trading Data
On Wednesday, NPTX stock gained 0.37% to $0.0403 with more than 89K shares, compared to its average Wednesday of 84K shares. The stock moved within a range of $0.0403 – 0.0430 after opening trade at $0.0424.
Neuropathix, Inc. CEO Issues New Letter to Shareholders; Updates Market on Milestones in Research and Funding
Following the opioid epidemic ten years ago, pharmaceutical companies have been hesitant to revisit pain therapies. The company, however, perceives a shift in the horizon.KLS-13019, a unique cannabinoid-derivative chemical developed by Neuropathix, has been classified as a lead therapeutic option for neuropathic pain treatment, making it a viable option to opioids.
Kannalife Sciences Inc., its wholly-owned subsidiary, was recently awarded $2.97 million by the National Institutes of Health HEAL initiative for its IND enabling trials and clinical program advancement for KLS-13-19. A 20 priority impact score from peer-reviewing researchers for KLS-13019 showing its non-addictive properties in chemotherapy-induced peripheral neuropathy treatment supported the NIH grant award. So in the coming weeks, NPTX is worth watching.
Technical Data
NPTX stock is trading above the 20-Day and 50-Day Moving averages of $0.0310 and $0.0280 respectively. However, the stock is trading below the 200-Day moving average of $0.0518.
