Enzolytics Inc (OTCMKTS:ENZC) stock Turns Volatile: How to Trade Now?
It has been a brutal start to the day for the Enzolytics Inc (OTCMKTS:ENZC) stock, which has tanked by 22%. The selloff in the stock has come in reaction to the announcement from the company this morning that it signed a Letter of Intent in relation to the commercialization and production of HTLV-1 monoclonal antibodies with Creative Biolabs.
The technologies belong to both the companies are going to be combined in this particular collaborative effort. Despite the selloff in the stock this morning, it should be noted that it is a significant development for Enzolytics considering the fact that at this point there are no vaccines or antiviral medicines that can work against HTLV-1.
In this regard, it might be a good idea for investors to note that Enzolytics’ Artificial Intelligence method is going to be deployed in order to identify immutable target sites that are present in the HTVL-1 virus. As per the letter of intent, Creative Biolabs is going to be working on the mass production of the anti-HTVL1 monoclonal antibodies and on top of that, it is also going to be in charge of marketing as well as promotion. Investors could do well to keep an eye on further news regarding Enzolytics.
Market Reaction:
As of 11:39, ENZC stock slumped 20% at $0.1650 with more than 18.84 million shares, compared to its average volume of 29.68 million shares. The stock has moved within a range of $0.1550 – 0.2080 after opening the trade at $0.20. Over the past 52-week, the stock has been trading within a range of $0.0003 – 0.9580.
