Although a stock may trade in a range, if there is any news about the company, it may be a good move for investors to take note. After all, it can lead to a breakout. For instance, the Blackhawk Growth Corp (OTCMKTS:BLRZF) stock was trading within a range on Wednesday but at the same time the company made a major announcement with regards to its fully owned subsidiary unit MindBio Therapeutics Pty Ltd.
Market Action
On Wednesday, BLRZF stock ended flat at $0.47 with 520 shares, compared to its average volume of 1.8k shares. The stock has moved within a range of $0.4700 – 0.4700 after opening trade at $0.47.
Blackhawk Growth’s MindBio Therapeutics Completes Safety Milestone in its Phase 1 Clinical Trials
The company announced that MindBio got feedback from the independent Data and Safety Monitoring Committee with regards to its Phase 1 trial. As per the feedback, the Phase 1 Trial got the green signal to continue.
The company got the approval after a six month safety review had been completed successfully. It goes without saying that it was a major development for MindBio and it now remains to be seen if it has any effect on the Blackhawk Growth Corp stock or not.
MindBio is an innovative company which is currently working on a wide range of new age treatments for taking care of mental health conditions through the use of psychedelic medicines. It may be a good move to keep Blackhawk Growth Corp in your watch lists at this point.
Key Quote
“We are very pleased to report these safety outcomes in our clinical trials,” said Frederick Pels, CEO of Blackhawk Growth Corp. “These results showcase the caliber of work we are doing, targeting more effective medical treatments for mental health conditions. Throughout these trials, MindBio is solidifying its position as a market leader in the psychedelic research sector. We look forward to updating shareholders with further developments in the near future.”
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