Quanta Inc (OTCMKTS:QNTA) Stock Rallies 12% in a Week: What’s The Buzz?

In the past week, the Quanta Inc (OTCMKTS:QNTA) stock has been flying high and has managed to deliver gains of as much as 12% during the period. Yesterday, the company was in the news owing to a major development at Medolife Rx Inc, a company in which Quanta has a majority stake. Medolife is a bioceutical company which is not only involved in manufacturing but also in distribution of products.

It announced yesterday that it started a pharmacokinetic study into its flagship product candidate named Escozine. In this particular study, the basis of the product’s exposure to the body is going to be determined and hence, it goes without saying that it is a major development for Medolife.

More importantly, this information has actually been sought by the United States Food and Drug Administration in relation to the pre-investigational new drug application that had been sent in by Medolife. In the application, the product was regarded as a potential therapy for patients who might be suffering from COVID 19 infection. Considering the case that cases are on the rise in many parts of the world once again, it could prove to be an important product for Medolife. Hence, the rally in the stock of the majority shareholder Quanta is perhaps not surprising.