Adhera Therapeutics (OTCMKTS:ATRX) stock has been gaining momentum over the past week with a gain of 5%.
Market Action
On Monday, ATRX stock ended flat at $0.19 with more than 292K shares, compared to its average volume of 191k shares. The stock has moved within a range of $0.1780 – 0.2019 after opening the trade at $0.2019.
Announces Appointment of Dr. Zahed Subhan to Board of Directors
Adhera Therapeutics (OTCMKTS:ATRX) has just appointed Zahed Subhan, BS MS PhD MBA LLB, to the Company’s Board of Directors. Having over three decades of experience in the United States, United Kingdom, European Union, and Asia, Dr. Subhan is an international pharmaceutical and biotechnology executive. His forte is in all phases of drug development, particularly in neurology, psychiatry, oncology, cardiovascular, urology and metabolic disease therapeutic areas.
Andrew Kucharchuk, CEO of Adhera Therapeutics, eagerly welcomes Dr. Subhan, and looks forward to his contribution towards drug development, business development and capital markets, as the company advances its experimental drugs through the clinical process. According to him, Dr. Subhan’s credentials, international experience, and expertise with MLR-1023 (crucial in structuring and conducting their planned Phase 2b clinical trial for Type 1 diabetes), is what makes him invaluable.
On his end, Dr. Subhan is equally excited for this opportunity to assume a leadership role at Adhera. He is diligently working towards advancing a compelling pipeline via international and domestic markets. This move, he feels is necessary to bridge certain areas of unmet medical requirements, while building corporate value. Innovative solutions are required for diseases like Type 1 diabetes, NASH and Parkinson’s, and repositioning MLR-1023 and MLR-1019 is just the type that warrants more clinical studies for those very purposes.
Key Quote
“We welcome Dr. Subhan to our Board of Directors and greatly look forward to him contributing his decades of experience across the drug development, business development and capital markets as we advance our experimental drugs through the clinical process,” commented Andrew Kucharchuk, Chief Executive Officer at Adhera Therapeutics. “We believe attracting a person of his caliber speaks volumes to the quality of our drug candidates. His credentials are impeccable, his international experience invaluable, and he has intimate experience with MLR-1023, knowledge that will be instrumental in structuring and conducting our planned Phase 2b clinical trial for Type 1 diabetes.”
Traders Note
ATRX stock is trading above the 50-Day and 200-Day Moving averages of $0.19 and $0.12 respectively. However, the stock is trading below the 20-Day moving average of $0.20. The stock is up 62% over the past 3-month.
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