Oncotelic Therapeutics Inc (OTCMKTS:OTLC) Stock Makes An Interesting Move: How To Trade Now

Oncotelic Therapeutics Inc (OTCMKTS:OTLC) stock was under pressure in the previous trading session after the recent announced  a news. The stock has lost over 40% so far this year.

Market Action

On Monday, OTLC stock closed down by 6% at $0.1278. More than 342k shares have exchanged hands, below its average volume of 223k shares. The stock opened at $0.14 and moved in a range of $0.1255 – 0.1400.

ONCOTELIC ACQUIRES FAST TO MARKET LATE-STAGE DRUG CANDIDATE FOR PARKINSON DISEASE, ERECTILE DYSFUNCTION, AND FEMALE SEXUAL DYSFUNCTION.

Here are the highlights:

Oncotelic Therapeutics executed an exclusive licensing agreement on September 30, 2021, with Autotelic Inc., to license intranasal apomorphine (“AL-101”). Oncotelic intends to develop AL-101, via the fast-to-market 505(b)2 regulatory pathway, for Parkinson Disease (“PD”) and Erectile Dysfunction (“ED”), especially phosphodiesterase 5 (“PDE5”) non-responders. Oncotelic also plans to develop AL-101 as a new class of drug against Female Sexual Dysfunction (“FSD”), including Hypoactive Sexual Desire Disorder (“HSDD”). AL-101 has shown a favorable safety and efficacy profile and is phase 3 ready with six clinical trials completed and over 200 patients (2,200 doses) treated.

“The acquisition of AL-101 brings in a product with a substantially large market potential for existing and unmet medical needs into the Company. With a substantially large number of new patients being diagnosed with PD, PDE5, ED every year and limited therapies available for FSD and HSDD, the Company believes that this acquisition has the potential to transform the Company.” said Saran Saund, CBO of Oncotelic.

Key Quote:

“I am pleased with progress among multiple fronts and look forward to updating our shareholders in the coming weeks. With the acquisition of AL-101 we have positioned the company for its next stage of growth through the fast to market 505(b)2 regulatory pathway more appropriate for a company of our size and history.” said Dr. Vuong Trieu, CEO and Chairman of Oncotelic.

Trader Notes:

OTLC stock has underperformed recently with a fall of over 59% in the past 6-month. On the technical basis, the stock is trading below its 200-Day SMA stand at $0.23. Moreover, RSI at 45 signals that the stock is trading near the neutral zone.