Is Chiasma Inc (NASDAQ:CHMA) Stock a Buy Or Sell After The Recent Move?
Over the course of the past month, the commercial stage biopharmaceutical company Chiasma Inc (NASDAQ:CHMA) has seen its stock struggle considerably. During that period, the stock has gone down by as much as 12%.
There may not have been any news about the company in recent days but it might be a good idea for investors to take a closer look at a development from last month. Back on June 28, the company announced that it sent in a Marketing Authorization Application to the European Medicines Agency for its product MYCAPSSA. The company was looking for approval for its product as an option for maintenance therapy in adults who might be suffering from acromegaly.
In this regard, it should also be noted that the company’s application was actually supported by the data from the worldwide Phase 3 MPOWERED non-inferiority trial.
However, more importantly, it is perhaps necessary to note that the product has already been approved by the United States Food and Drug Administration and has been made available in the United States already as an option for maintenance therapy for those who are afflicted by acromegaly. Despite the fall in the stock price, it is a stock that could be worth following.
Market Reaction:
On Tuesday, CHMA stock fell 0.96% at $4.14 with more than 377k shares, compared to its average volume of 2.83 million shares. The stock has moved within a range of $4.1100 – 4.2100 after opening the trade at $4.15. Over the past 52-week, the stock has been trading within a range of $2.7700 – 5.7400.
