Nasdaq Jumps 200 Points; Baudax Bio Shares Spike Higher
Portfolio Pulse from Lisa Levin
U.S. stocks traded higher with the Nasdaq Composite gaining more than 1% on Friday. Renalytix Plc (NASDAQ:RNLX) shares shot up 44% after the company received FDA De Novo marketing authorization for its KidneyIntelX.dkd prognostic test. Baudax Bio, Inc. (NASDAQ:BXRX) shares shot up 123% after the company agreed to acquire TeraImmune in a stock-for-stock transaction. Cyteir Therapeutics, Inc. (NASDAQ:CYT) shares were up 38% after the company announced it is discontinuing all development of CYT-0851, dissolving the company and liquidating its assets.
June 30, 2023 | 6:34 pm
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POSITIVE IMPACT
Baudax Bio shares shot up 123% after the company agreed to acquire TeraImmune in a stock-for-stock transaction.
The acquisition of TeraImmune by Baudax Bio is a significant development for the company, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Cyteir Therapeutics shares were up 38% after the company announced it is discontinuing all development of CYT-0851, dissolving the company and liquidating its assets.
The announcement of the discontinuation of all development of CYT-0851, dissolution and liquidation of Cyteir Therapeutics is a significant development for the company, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Renalytix shares shot up 44% after the company received FDA De Novo marketing authorization for its KidneyIntelX.dkd prognostic test.
The FDA De Novo marketing authorization for Renalytix's KidneyIntelX.dkd prognostic test is a significant positive development for the company, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100