Stocks In News: NRSN, AFIB, EBON
1:52 pm Monday, June 27th, 2022
NeuroSense Therapeutics (NASDAQ:NRSN) is serving up some terrific news for shareholders today. The company just released positive results from the Stage III study of its ALS treatment candidate, PrimeC. NRSN stock is now up roughly 60%. PrimeC is a combination drug therapy that both the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) have granted an Orphan Drug Designation. NeuroSense has also already completed a Phase IIa clinical study for PrimeC. Now, they are evaluating the drug in a Phase IIb PARADIGM study.
In the wake of clearance from the U.S. Food and Drug Administration (FDA), arrhythmia management company Acutus Medical (NASDAQ:AFIB) just announced the commercial launch of its expanded suite of heart-access products. As a result, AFIB stock is pumping higher on heavy trading volume. Acutus is a tiny medial device company with a roughly $30 million market capitalization. However, the company has a suite of heart-access products, including the TruSeal and FXD delivery systems. With the new regulatory clearance, Acutus is now able to include its AcQCross Qx system and commercialize its full product suite.
In a bit of an odd move, Ebang (NASDAQ:EBON) stock is up nearly 20% today after the Chinese blockchain technology company received a warning from the Nasdaq exchange that it will be delisted if it fails to maintain a minimum $1 trading price in coming months. Normally, the threat of being delisted would be viewed negatively and a stock’s price would drop as a result. The rise in EBON stock might be a sign that investors are rallying to support it and push it above the $1 threshold that’s needed to maintain its listing compliance with Nasdaq. Or today’s increase could be an indication that retail investors are targeting the stock for a short squeeze. Ebang’s stock is currently trading at $0.43 and has fallen 60% this year.
