(CircleFinance.com) – Acticor Biotech shares continued to rally on the Paris stock exchange on Wednesday, a day after the biopharmaceutical company reported positive results in a stroke.
At 4:30 p.m., the stock jumped more than 17%, once again marking one of the strongest gains on particularly strong volume on the Paris market.
The value jumped nearly 40% yesterday following the publication in the journal ‘The Lancet Neurology’ of promising results from the phase 1b/2a study presented for the first time at the European Stroke Organization (ESOC) conference. 2022.
‘This sudden upward momentum is somewhat unexpected as the main results presented in the article were already known, but their publication in a prestigious publication such as The Lancet Neurology, in our opinion, comes to strengthen the market’s confidence in the therapeutic potential. A drug candidate developed by Acticor’, comments Jamila Al Bougri, an analyst dedicated to the health and biotechnology sectors at Invest Securities.
‘Stock has recently suffered from a lack of newsflow and this data confirms that there is indeed potential in the emergency treatment of stroke, where the medical need is significant.’, the analyst adds.
‘We are seeing more and more clinical results that have already been published being praised more when they are published in a scientific journal, as additional scientific and clinical validation of their clinical proof of concept,’ she observes.
The analyst adds, ‘It is clear that this strong increase, often seen during media campaigns aimed at recalling the positive clinical results already achieved, is a fundraising opportunity.’
‘In the case of Acticor, we know that the current availability makes it possible to cover the needs until June 2024 and the funding of at least 4.5 million euros must be launched during the first quarter of this year’, recalls Jamila Al Bougrini.
‘Yesterday’s announcement and the sharp rise in the stock it led to, thus gives them a good chance to launch a fundraising campaign’, the biotech expert concluded.
In a study published earlier in the week, Invest Securities recalled that the cardiovascular sector has been a hot topic for ‘big pharma’, adding that good Phase II/III results could potentially follow.
Open the way for Acticor to discuss with potential partners.
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