Adhera Therapeutics Inc (OTCMKTS:ATRX) Stock Gains Following Announcing CEO, Senior Management Changes, Plans for NASDAQ Uplist

Although the markets are not exactly stable at this point in time there are still stocks that may prove to be worth tracking and one of those could be the Adhera Therapeutics Inc (OTCMKTS:ATRX) stock.

Trading Data

On Monday, ATRX stock rose 10.77% to $0.0720 with 941.31K share, compared to its average volume 38.50K shares. The stock moved within a range of $0.0635 – 0.0880 after opening trade at $0.0667.

Adhera Therapeutics Announces CEO, Senior Management Changes, Plans for NASDAQ Uplist

The stock was in sharp focus yesterday and ended up with gains of as much as 11% for the day amidst significant interest. Adhera announced yesterday that back on September 8, 2022, the Board of Directors of the company had appointed a new Chief Executive Officer in the form of ZahedSubhan. On the same day, Subhan had also been elected to be the Chairman of the Board of Directors of Adhera. However, it should be noted that the appointment of Subhan as CEO is going to be effective on September 30, 2022.

In this regard, it should be noted that Subhan has been with the company as a Director since November last year. However, perhaps more importantly his experience in the development, research, and commercialization of global pharmaceutical companies spans more than 35 years. He has worked for GlaxoSmithKline, Sanoti and Dupont among others. Additionally, he has also been part of the Senior Management and the CEO in both public and private biotech firms.

Key Quote

“We are pleased to be in the final stages of an important but necessary transition from a service-led business model to that of a clinical stage biopharmaceutical company that has the potential to build real value for shareholders. In that regard, we are committed to uplist to a national exchange and accelerating the development of our pipeline addressing truly unmet medical needs in Parkinson’s disease and Type 1 diabetes,” commented Dr. Subhan.

Technical Data

ATRX stock is trading above the 20-Day and 50-Day Moving averages of $0.0631 and $0.0653 respectively. However, the stock is trading below the 200-Day moving average of $0.0732.