Valeo Pharma (OTCMKTS:VPHIF) Stock Jumps 7% In a Week: Here is Why
Valeo Pharma (OTCMKTS:VPHIF) is up 7% in a week. The Canadian pharmaceutical firm has announced a major milestone regarding its novel Asthma therapies Enarzair Breezehaler and Atectura Breezhaler, which the Nova Scotia Minister of Health and Quebec RAMQ will be reimbursing effective December 2, 2021, and December 15, 2021, respectively.
Market Stats
On Wednesday, VPHIF stock ended flat at $0.5752 with more than 100 shares, compared to its average volume of 2.97k shares. The stock has moved within a range of $0.5752 – 0.5752 after opening trading at $0.5752.
Latest News
Currently, the listing appears on the Nova Scotia Drug Formulary and Quebec List of Medications. The company’s Chief Operating Officer and President Frederic Fasano stated that they are delighted to report the addition of Nova Scotia and Quebec to the list of provincial coverage for the Asthma medications joining Alberta. Fasano explained that public reimbursement would significantly impact asthma patients that currently don’t have coverage.
Equally, it will simplify healthcare providers’ procedures to offer their patients access to this medication. The asthma medications can help make asthma control attainable goal for Canadian patients.Public coverage in the provinces means private payers can now cover the drugs. Therefore, investors should watch VPHIF.
Key Quote
“We are pleased to be reporting today the addition of Quebec and Nova Scotia to join Alberta on the list of provincial public coverage secured for both asthma medications”, said Frederic Fasano, Valeo’s President and Chief Operating Officer. “Public Reimbursment access makes a meaningful impact for asthma patients left with no coverage so far, and also simplify health care providers procedures to provide access of both medications to their patients. Enerzair and Atectura are innovative asthma therapies that are helping make asthma control a more attainable goal for Canadians asthma patients”.
Traders Corner
VPHIF stock is trading above the 10-Day and 20-Day Moving averages of $0.5671 and $0.5747 respectively. However, the stock is trading below the 200-Day moving average of $0.7220. The stock is down 6% in the past month.