Why Acumen Pharmaceuticals Shares Are Trading Higher By Over 60%? Here Are Other Stocks Moving In Monday's Mid-Day Session
Portfolio Pulse from Lisa Levin
Several stocks experienced significant movement in Monday's mid-day session. ProMIS Neurosciences, Acumen Pharmaceuticals, BridgeBio Pharma, Lixte Biotechnology Holdings, and Healthcare Triangle were among the top gainers, with shares jumping due to various reasons such as positive preclinical data, successful Phase 1 studies, and strong financial results. On the other hand, Novan, ViewRay, UTime Limited, Jiuzi Holdings, and BYND Cannasoft Enterprises were among the biggest losers, with shares falling due to factors such as asset sales, Chapter 11 filings, and direct offerings.
July 17, 2023 | 5:14 pm
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NEGATIVE IMPACT
Novan shares fell 67.9% after the company announced an agreement to sell substantially all of its assets and filed for Chapter 11 protection.
The sale of substantial assets and filing for Chapter 11 protection indicates financial distress, which has likely led to a significant decrease in Novan's share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
ProMIS Neurosciences shares jumped 126.6% due to positive preclinical data showcased at the Alzheimer's Association International Conference 2023.
The positive preclinical data presented at a major conference has likely boosted investor confidence in ProMIS Neurosciences, leading to a significant increase in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100