There were many stocks which got off to a flying start to the week on Monday and one of those was the Innovation Pharmaceuticals (OTCMKTS:IPIX) stock, which ended up with gains of 14%. The clinical stage biopharmaceutical company came into focus among investors on Monday in light of the announcement last week of the publication of a scientific article last week.
Trading Data
On Monday, IPIX stock increased 13.64% to $0.0329 with 503.40K shares, compared to its average volume 744.01K shares. The stock moved within a range of $0.0301 – 0.0330 after opening trade at $0.0310.
Innovation Pharmaceuticals Announces Publication of Scientific Article on the Antifungal Activity of Brilacidin
On October 4, the company had announced that an article had been published with regards to the antifungal activity of its flagship product Brilacidin. The product in question is a defensin-mimetic medicine which has immunomodulatory and antimicrobial properties.
It should be noted that the paper in question is actually a preprint and is yet to be peer reviewed. It was published after independent research had been conducted on the product by scientists at the University of Sao Paolo in Brazil. However, that is not all.
A corresponding patent application had also been filed on the basis of the research. At this point in time, it may be a good idea for investors to consider keeping an eye on the price action on the stock and keep an eye out for any news that may be forthcoming.
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 $0.0354 and $0.0393 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0381.
