Tetra Bio-Pharma Inc (OTCMKTS:TBPMF) Stock Soars After Update on Its REDUVO™ New Drug Submission
One of the companies which may be worth looking into at this point in time is Tetra Bio-Pharma Inc (OTCMKTS:TBPMF) after the CBD products development leader saw its stock go on a remarkable rally this past Friday.
Trading Data
On Friday, TBPMF stock moved up 80% to $0.0252 with more than 378.83K shares, compared to volume of 139.32K shares. The stock moved within a range of $0.0140 – 0.0252 after opening trade at $0.0140.
Tetra Bio-Pharma Provides Update on Its REDUVO™ New Drug Submission
After the company issued a key regulatory status update to its shareholders about one of its products, the stock soared by as much as 80% amidst heavy interest. It will be interesting to see if it can add to its gains this week or not. The update was with regards to the company’s New Drug Submission for REDUVO.
It was noted that it was back on December 30, 2020 that the company had made its submission for the New Drug Submission for REDUVO to Health Canada for an approval and in order to get a drug identification number.
The last recorded response from the regulatory body had been towards the end of May earlier on this year. However, back on November 16 last week Tetra Bio-Pharma had been provided with a clarification by Health Canada with regards to the product labels. The company announced last Friday that it would provide Health Canada with the necessary clarifications within the deadline.
Technical Data
TBPMF stock is trading below the 20-Day and 50-Day Moving averages of $0.0259 and $0.0461 respectively. However, the stock is trading above the 200-Day moving average of $0.0186.
