Following were the major micro-cap losers in the biotech sector on Tuesday. Keep these stocks on your radar this week.
Novan (NASDAQ:GASS) was one of the notable losers in Tuesday’s trading session with a fall of 40.36% to close at $0.835. The stock saw total volume of over 47.87 million shares exchanged hands, well above its average volume of 5.78. The company announced that it has filed a Certificate of Amendment to the Restated Certificate of Incorporation of the Company to implement a one-for-ten reverse split of its issued and outstanding common stock .
Larimar Therapeutics (NASDAQ:LRMR) was under pressure on Tuesday as the stock decreased 10.60% to $13.51. After opening at $15, the stock has moved within a wide range of $ 13.14 – 15.00. The stock has fallen 36% so far in 2021. On Tuesday, the company announced that the United States Food and Drug Administration (FDA) has placed a clinical hold on the CTI-1601 clinical program and that the company will not be closing a previously announced private placement financing.
Onconova Therapeutics (NASDAQ:ONTX) was another microcap biotech stock loser . The stock was down 7.96% at $7.05. More than 1.77 million shares have been traded hands, compared to its average volume of 1.51 million shares. Over the past 52-week, the stock moved within a range of $ 2.85 – 28.95. The stock has fallen 70% in the past quarter.
Scopus BioPharma Inc (NASDAQ:SCPS) closed lower by 6.44% to $9.59. Total volume was 4.81 million shares, well above its 30-day average volume of 705K shares. Earlier this week, the stock went up 150% in single session after it announced the approval of an investigational new drug application (“IND”) by the United States Food and Drug Administration (“FDA”) for CpG-STAT3siRNA, the company’s distinctive immuno-oncology RNA therapy for the treatment of multiple cancers.
Vascular Biogenics Ltd (NASDAQ:VBLT) fell by 6.30% to $2.24 on the volume of 294K shares, compared to its daily average volume of 544K shares. In yesterday’s trading session, the stock made a high and low of $2.42 and $2.23 respectively. Over the past year, the stock has surged 101% and 18.50% so far this year.