The Brooklyn ImmunoTherapeutics Inc (NYSEAMERICAN:BTX) stock has made a strong move this morning and has already managed to go up by 15% so far. The rally in the stock this morning has been triggered by the announcement from the company with regards to the establishment of a research and development centre.
The centre is located at Cambridge, Massachusetts and is going to be deployed by the company to research into cellular therapies and gene editing based on mRNA.
The Chief Executive Officer and President of the company Howard J. Federoff also spoke about the latest development. He stated that the new facility if going to help Brooklyn ImmunoTherapeutics in advancing its research and developments efforts considerably. It is also going to be help the company in leveraging its recent collaborations with Novellus Therapeutics Limited and Factor Bioscience Limited effectively. In light of the latest developments, investors could consider keeping the stock in their watch lists for the time being.
At the time of writing, BTX stock is up by 14.80% to $19.09. The stock has seen a total volume of 6.53 million shares, compared to its average volume of 6.90 million shares.