Major Stock Gainers: ANVS, OBLN, RESN
4:52 pm Friday, May 21st, 2021
Annovis Bio Inc (NYSEAMERICAN: ANVS) stock soared 145% to $64.85. Investors are reacting positively to the company’s news about new results from a double-blind, placebo-controlled study of ANVS401, it’s lead drug candidate for the treatment of AD and PD. The company said Patients treated with ANVS401 for 25 days showed statistically significant cognitive improvement as measured by the Alzheimer’s Disease Assessment Scale-Cognitive Subscale 11 (ADAS-Cog11). The 11-part test is one of the most frequently used tests to measure impaired cognition in clinical trials for AD.
Obalon Therapeutics Inc (NASDAQ:OBLN) surged 31.56% to $3.46 on elevated volume. Today’s buying interest is driven by the news that the company urged its stockholders to vote in favor of the proposed merger with ReShape Lifesciences (OTCQB:RSLS). The company warned that without the required stockholder approval, the merger will not be completed, which could have a material adverse effect on Obalon and its stock price. After the completion of the merger, Obalon stockholders will own about 49% of the stock of the combined company.
Resonant Inc (NASDAQ: RESN) stock went up over 22% to $3.54. Last week, the company reported Q1 results. Earnings per share were up 16.67% over the past year to ($0.15), which missed the estimate of ($0.10). Revenue of $608,000 rose by 11.76% from the same period last year, which beat the estimate of $600,000.
Resonant Inc., a late-stage development company, designs and develops filters for radio frequency (RF) and front-ends used in the mobile device, automotive, medical, internet-of-things, and related industries in Japan, China, and internationally.
