Aditxt Inc. (NASDAQ:ADTX) Stock Moved Down 23% After The FDA News
Aditxt Inc. (NASDAQ:ADTX) dropped 23% on Friday and 31% last week after the biotech innovation firm announced that the worldwide Phase 3 PRESECO study evaluating oral Avigan/Reeqonus as a possible at-home therapy for mild-to-moderate COVID-19 didn’t attain statistical primary endpoint significance of time to sustained clinical recovery.
Traders Corner
ADTX stock is trading below the 20-Day and 50-Day Moving averages of $1.79 and $1.73 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.49. The stock is down 23% in the past month.
Market Stats
On Friday, ADTX stock slumped 23% at $1.39 with more than 8.84 million shares, compared to its average volume of 6.91 million shares. The stock has moved within a range of $1.2000 – 1.5200 after opening trading at $1.22.
Aditxt Provides an Update Regarding its Target Acquisition AiPharma Global Holdings LLC
AiPharma Global Holdings LLC consortium partner APPILI Therapeutics Inc. was responsible for conducting the study, and analyses are currently ongoing. The company’s CEO and co-founder Amro Albanna said they are evaluating and reviewing the released data and results and will discuss the findings with AiPharma Global to establish the best course of action.
The company had previously announced the signing of a transaction agreement to enter a definitive agreement by the end of this month to purchase an AiPharma Global subsidiary that owns all AiPharma Global assets. AiPharma Global holds direct or through subsidiaries exclusive rights for Avigan/Reeqonus/Qifenda and all favipiravir formulations. In the coming months, investors should keep an eye on ADTX.
Key Quote
“We are reviewing and evaluating the announced results and data, and will be discussing them with AiPharma Global to determine the best course of action,” stated Aditxt Co-Founder and CEO Amro Albanna.
