In recent days, the Innovation Pharmaceuticals (OTCMKTS:IPIX) stock has come into significant focus among investors and it may be a good time to take a closer look into it. There was no news about the company yesterday but it had in fact been in the news earlier on in the month on September 15.
On Wednesday, IPIX stock surged 2.82% to $0.0399 with more than 141.35K shares, compared to its average volume of 766.20K shares. The stock moved within a range of $0.0326 – 0.0399 after opening trading at $0.0326.
New In Vitro Data Supporting the Broad-Spectrum Antiviral Activity of Innovation Pharmaceuticals’ Brilacidin Presented at 2022 Military Health System Research Symposium
At the time the company announced that the antiviral data in relation to its product Brilacidin had been presented at the 2022 Military Health System Research Symposium. The event was held at the Gaylord Palms Resort and Convention Center located in Kissimmee, Florida. The research in question had been conducted by the George Mason University’s Center for Infectious Disease Research.
The research revealed that under a range of testing conditions and cell lines, Brilacidin had been successful in inhibiting viral replication in encephalitis alphavirus to a statistically significant degree. The product had been effective in inhibiting other types of viruses as well. Hence, it goes without saying that the development was a significant one for Innovation Pharmaceuticals and it could bring the stock into considerable focus among investors in the coming days. It may be a good idea for investors to keep an eye on it.
IPIX stock is trading below the 20-Day and 50-Day Moving averages of $0.0379 and $0.0406 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0390. The company has a total market capitalization of $19 million.