Alterola Biotech Inc (OTCMKTS:ABTI) Stock Extends Rally: How To Trade Now?
Alterola Biotech Inc (OTCMKTS:ABTI) stock was a notable gainer in the previous trading session. The stoc has surged 60% over the past month.
Market Action
In the previous trading session, ABTI stock soared 43% to $2. A total of 11k shares traded for the session hands, compared to its average volume of 1.2k shares. The stock opened at $1.64 and moved in a range of $1.5000 – 2.0000.
Key Trigger
July 22, 2021 – Alterola Biotech Inc. Acquires Abti Pharma Ltd
Alterola Biotech announced the acquisition of ABTI Pharma Ltd, a company developing novel cannabinoid, cannabinoid-like, and non-cannabinoid pharmaceutical medicines, active pharmaceutical ingredients (APIs), and other ingredients.
The acquisition of ABTI Pharma Ltd follows Alterola’s recent change of strategic direction into the cannabinoid medicines sector and has resulted in a new management team for the Company.
As part of the acquisition of ABTI Pharma Ltd, the Company now has a number of potential drug development candidates, technologies, and associated intellectual property in its portfolio, which will form part of the Company’s research and development (R&D) pipeline.
This includes potential drug candidates for the treatment of a number of indications, and access to drug delivery technologies, which it believes will be beneficial to the Company’s development pipeline. The Company plans to undertake the necessary R & D to progress these candidates through the usual regulatory pharmaceutical drug development process.
