If you are looking into stocks that had clocked notable gains on Tuesday then you could do well to take a look at the Innovation Pharmaceuticals (OTCMKTS:IPIX) stock which had ended up with gains of 5% yesterday. The company announced yesterday that a scientific article had been published with regards to the antifungal properties of its product Brilacidin.
Trading Data
On Tuesday, IPIX stock gained 4.71% to $0.0356 with more than 674k shares, compared to its average volume of 767k shares. The stock moved within a range of $0.0330 – 0.0360 after opening trade at $0.0348.
Innovation Pharmaceuticals Announces Publication of Scientific Article on the Antifungal Activity of Brilacidin
That being said, it should be noted that the paper is still only a preprint and is yet to be sent in for peer review. The paper has been prepared by independently by scientists at the University of Sao Paulo in Brazil. It should be noted that a corresponding patent application has also been submitted.
During the study by the scientists, the product Brilacidin had been having displayed highly promising antifungal activity and eventually it had also been selected for pre-clinical evaluation. The publication of such a study can only be a positive for Innovation Pharmaceuticals in the long run and hence, it was perhaps not a surprise that the news led to a wave of optimism among investors. It may be a good move at this point to add the stock to your watch list.
Key Quote
“It is a remarkable feature of Brilacidin that it can potentiate multiple antifungals, in different pathogenic fungi, including hard-to-treat species. New antifungal combination strategies are urgently needed due to a scarcity of novel agents, alongside emerging resistance in the clinical setting,” commented Gustavo Henrique Goldman, Professor of Molecular Biology, University of São Paulo, Brazil, and a Chief Editor for Frontiers in Fungal Biology, a peer-reviewed journal dedicated to the study of mycology. “Another notable finding from our research is that Brilacidin shows exceptional potency of its own as a monotherapy against C. neoformans, a particularly problematic fungus. We look forward to broadening our planned studies of Brilacidin’s antifungal properties.”
Technical Data
IPIX stock is trading below the 20-Day and 50-Day Moving averages of $0.0369 and $0.0402 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0386.
