Equity momentum continued to lapse on Wednesday, the third day in a row markets have struggled to post gains. This sag may simply reflect end of year profit taking as some investors rebalance their portfolios after a stellar year for US stocks.
Macro data continues to be mixed; a solid jobs report mixed with disappointing wage growth data, contributing to the lukewarm environment for the day’s session. Markets await policy news from the Federal Reserve later this week.
Today, we double up on our biopharmaceutical plays for the week. As broader trading momentum sags, investors are more eager than ever to pile into stocks that still have room to grow. After this long bull run, most stocks already have some potential revenue growth baked into their price. Scientific developments can be a useful avenue for NQ users to trade on product development companies that may have been overlooked by the broader market.
Indeed, this stock has more than doubled so far during today’s trading.
Vistagen is a clinical-stage biopharma company focused on developing treatments for clinical depression and other central nervous system disorders.
Today, VTGN announced a new patent on a core technology utilized in their flagship AV-101 development effort. AV-101 is currently in Stage 2 Clinical Trials. It is being studied for use in treating major depressive disorder.
This new approach employs a fundamentally new mechanism of action compared to existing depression treatments.
Investors are betting on the value of this IP in an arena with immense potential revenues on the line: depression and other CNS disorders constitute a massive global market for better treatment options.
The buying frenzy on Vistagen today has been truly dramatic, with the stock up over 150% at the time of this writing.
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