Last week, the biopharmaceutical company Relief Therapeutics Holding AG (OTCMKTS:RLFTF) was in considerable focus among investors and delivered handsome gains. This past Friday, the stock went up by 25.50% and took its gains for the week to as much as 57%. In light of such handsome gains, it might be the right time for investors to look into the Relief Therapeutics stock a bit more closely.
The rally in the stock came about in relation to a press release from its collaboration partner NRx Pharmaceuticals Inc last week. In that press release, it was revealed that a commercial formulation for the product aviptadil was validated for intravenous use.
However, that is not all. This is a major milestone for Relief Therapeutics since NRx also noted that this breakthrough is going to help in the high volume production of aviptadil that is also going to have stability of a year or more.
In this regard, it is perhaps also necessary to point out that NRx also noted in its press release that it also managed to boost its manufactured lot size of aviptadil 30 to 50 times. It now remains to be seen if the Relief stock can managed to hold on to its momentum this 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 Hits Multi-Month High: Time to Buy?){kind=link}