Is A Bounce Coming? Aptose Biosciences Inc (NASDAQ:APTO) Takes A Hit

This morning the Aptose Biosciences Inc (NASDAQ:APTO) stock has tanked by 25% after the company published the highlights from an event that was held today with regards to corporate updates.

The event took place this morning at 8 a.m. eastern time and was held concurrently with the EHA2021 Virtual Congress. At the corporate event today, the company provided details with regards to its kinase inhibitor oral product named luxeptinib, which is currently in its Phase 1 a/b trials.

Those who are interested in going through the presentation made by Aptose this morning could consider visiting the company website and take a look at the webcast.

William G. Rice, who is the Chief Executive Officer, Chairman and President of the company, stated that during the trial, it was confirmed that luxentinib is a medicine that is active against many different conditions. Malignancies of both the lymphoid and myeloid nature can be treated by the product. However, the news has not been welcomed with any enthusiasm by the investors.

Trader Action:

As of 12.15: APTO stock slumped by 30% to $3.88. More than 5.93 million shares traded hands, well above its average volume of 4.04 million shares. The stock is now trading near its 52-week low of $3.39.

Technical Indicators

CCI2096.5153BuyChaikin Money Flow-0.0409Neutral
MACD0.1292BuyMoney Flow Index70.3268Buy
STOCH (14,3)61.5385SellSTOCH RSI0.7322Neutral
UO41.3037SellWilliams %R-38.4615Neutral

Related Posts

About The Author