There are a number of stocks that are going to make their way onto the radars of investors owing to the moves that were made yesterday. By that token, the Adhera Therapeutics Inc (OTCMKTS:ATRX) stocks could well be one of those considering the fact that on Tuesday it had ended the day with gains of as much as 17%. In light of such strong gains, it may be a good time for investors to consider taking a close look at the nature of Adhera as a company and then take a deeper look into the latest developments.
Trading Data
On Tuesday, ATRX stock moved up 16.67% to $0.0700 with more than 232K shares, compared to its average volume of 23K shares. The stock moved within a range of $0.0630 – 0.0790 after opening trade at $0.0701.
About The Company
Adhera Therapeutics is a clinical-stage biopharmaceutical firm that is involved in the work related to the identification of medicine candidates which could be put into the pathways of accelerated development. As one can see, the company is involved in a highly specialized space and it will be interesting to see if the Adhera Therapeutics stock can manage to add to its gains today.
As this point in time, Adhera Therapeutics boasts of a pair of licensed medicine candidates and both of those products belong to the Mellor Discover group of companies. At this point in time, the company is also involved in the development of a product, MLR 1023, which is going to be meant as a treatment for Type 1 diabetes. The company is going to be particularly focused on C Peptide patients. The company has gone considerably stellar work over the course of the recent past and it is going to be interesting to see if the Adhera Therapeutics stock can continue to manage to add to its gains over the course of the coming days.
Adhera Therapeutics Signs Letter of Intent to Acquire CD71-Targeted Cancer Therapy Paclitaxel Gallium Transferrin
Now that you have a fairly good idea about Adhera Therapeutics as a company, it is now important to take a look at the specific development that led to the strong rally in the stock yesterday. Adhera Therapeutics announced yesterday that it had gone into a Head of Terms agreement for the acquisition of Paclitaxel Gallium Transferrin or PGT from Bio Innovation Group.
A Head of Terms agreement is also known as a Letter of Intent. The PGT is actually a type of protein that can be used for conducting targeted treatments of different types of advanced cancers. The announcement from the company was an important one considering the fact that Adhera Therapeutics was on the verge of adding a novel protein to its array of weapons in its fight against cancer.
It should be noted that PGT has already found success on a commercial level as far as approved medicines by the United States Food and Drug Administration are concerned. It is also an indication that Adhera Therapeutics would now be able to work closely with a protein that has a track record of success and hence, it may bring about further improvement in the chances of coming up with potentially successful medicines for cancer treatment. It could be a good idea to add Adhera Therapeutics to your watch lists today.
Key Quote
“CD71 is regarded as an optimal target in oncology, yet it has proven elusive to new therapeutics because of its ubiquitous expression on the surface of generic cells, a challenge that we believe PGT could potentially overcome while hitting tumor cells with both paclitaxel and gallium,” commented Andrew Kucharchuk, Chief Executive Officer at Adhera Therapeutics. “Owing to the fact that CD71 is overly expressed on many different refractory tumors, we see an opportunity to develop a strategy that is focused on specific cancer while simultaneously working to evolve a new drug for a tumor-agnostic secondary indication. PGT is a tremendous value add to our pipeline and we look forward to advancing the research on this promising new therapy.”
Technical Data
ATRX stock is trading above the 20-Day and 50-Day Moving averages of $0.0632 and $0.0632 respectively. However, the stock is trading below the 200-Day moving average of $0.0991. The company has a total market capitalization of $4.41 million. The stock is down 4% over the past month.
