Shares of AzurRx BioPharma Inc. (NASDAQ:AZRX) are down slightly Thursday mid day. Will the selling stop?
As of 11:30, AZRX is trading at .7269. Down less than 1% so far on the day. Volume is 1.3 million shares lighter than average. Trading opened the day at .80 but has not been able to hold on to its gains. Potential Pivot points to keep an eye on are .787 0.818 and 0.834 above and 0.693 0.724 and 0.740 below.
AZRX Announced Positive Interim Data of MS1819
- AzurRx BioPharma reported positive interim data of MS1819
- It is in Phase 2 combination clinical trial
- MS1819 is being developed to treat “severe exocrine pancreatic insufficiency” (EPI) in patients with cystic fibrosis in combination with doses of PERT
“We are encouraged by the promising interim data from the first 18 patients in our Phase 2 clinical trial, evaluating MS1819 in combination with PERT for the treatment of EPI in cystic fibrosis patients,” said CEO and President of AzurRx, James Sapirstein.
The market has beaten up AZRX despite the news of clinical success. AZRX is now trading below long-term support going back to 2020. AZRX is trading below its 5,10,20 and 50-day moving averages, which is very bearish. AZRX could be headed to its 52-week low of $0.65 or worse.