At the end of another trading week, it is perhaps time for investors to take a closer look at companies which saw their stocks record considerable gains through the week. One of the stocks that could be tracked by investors at this point of time is that of the biopharmaceutical company Relief Therapeutics Holding AG (OTCMKTS:RLFTF).
On Friday, the stock continued its ascent and went up by 25% to take its gains for the whole week to as much as 57%. The remarkable rally in the stock was triggered by a press release from its collaboration partner NRx Pharmaceuticals last week with regards to the positive effect aviptadil had on prevention in the rise of cytokines in patients suffering from COVID 19 infection.
That was a major development and it was no surprise that that after the news emerged, the Relief Therapeutics stock soared in a big way. Rise in cytokines is generally regarded as the reason behind the death of patients who suffer from COVID 19 infection. The positive data was derived from the Phase 2b/3 trial of aviptadil in the United States and has emerged as considerably positive trigger for the stock. Investors could do well to follow the stock next week.
Market Reaction:
On Friday, RLFTF stock soared 25.42% at $0.30 with more than 24.72 million shares, compared to its average volume of 4.78 million shares. The stock had moved within a range of $0.2430 – 0.3134 after opening the trade at $0.2450. Over the past 52-week, the stock has been trading within a range of $0.1820 – 0.7600.
 Stock Soars 57% Last Week: But Why?){kind=link}