The biopharmaceutical sector has almost always managed to draw the attention of investors over the course of the past few years and it is expected to be the case in the near future as well. Many of the companies in the sector have been doing highly innovative work in recent years and that is something that could be highly attractive to investors of many stripes. If you are looking into the possibility of investing in such stocks this morning, then it could be a good idea to perhaps look into the Relief Therapeutics Holding SA (OTCMKTS:RLFTF) this morning.
The company was on the radars of many investors last Friday and had managed to deliver gains of as much as 6%. In this situation, it is important for investors to perhaps figure out if the stock is going to continue to add to its gains today or through the course of the rest of the week.
Trading Data
On Friday, RLFTF stock moved up 5.71% to $0.0370 with more than 4.50 million shares, compared to its average volume of 2.69 million shares. The stock moved within a range of $0.0318 – 0.0380 after opening trading at $0.0370.
About The Company
Relief Therapeutics is already a commercial stage biopharmaceutical company and is involved in the development of on the development, identification and commercialization of patent protected novel products. These products are aimed at treating rare dermatological, metabolic and pulmonary conditions. It has already created a portfolio of such products. At this point in time, the company already has a Collaboration and License Agreement in place with the firm Acer Therapeutics for global development and commercialization of the product ACER-101. The product in question is meant for treating a range of errors of metabolism which are inborn.
Relief Therapeutics and Acer Therapeutics Announce that the European Commission Has Granted Orphan Drug Designation for ACER-001 in Maple Syrup Urine Disease
The stock rallied last Friday after Relief Therapeutics and its collaboration partner Acer Therapeutics made a joint statement with regards to the product that they are developing, ACER 101. The two firms noted that the European Commission had awarded awarded orphan drug designation to ACER 101 in the European Union for potentially treating patients who may be suffering from the Maple Syrup Urine Disease. In this context it is perhaps necessary to point out that the product had been awarded orphan drug designation for the United States market by the United States Food and Drug Administration back in 2014 for the treatment of the same disease.
The latest development was a significant one for the company since it was going to open up a whole new market for the product and perhaps the rally in the stock was, hence, not really a surprise. That being said, it now remains to be seen if the stock can manage to hold on to its momentum over the course of the coming days or not.
The Chairman of the Board of Directors of the company Raghuram Selvaraju spoke about the latest event as well. While he naturally noted that the latest milestone was a significant one for the company, he added that Relief Therapeutics was not looking to continuing the advancement of the product for treating not only Maple Syrup Urine Disease but also Urea Cycle Disorders. It may be a good move to add the Relief Therapeutics stock to your watch lists at this point
Technical Data
RLFTF stock is trading above the 20-Day and 50-Day Moving averages of $0.0351 and $0.0242 respectively. However, the stock is trading below the 200-Day moving average of $0.0597. The company has a total market capitalization of $152.30 million. The stock is down 2% over the past month.
