Akari Therapeutics PLC (ADR) (NASDAQ: AKTX)
Akari Therapeutics is having an incredible day in the market today. At the opening bell, the stock was trading slightly green. Then, minutes ago, it started to make a strong run for the top. Soon enough, it was halted on volatility. Below, we'll talk about what we're seeing from AKTX, why, and what we'll be watching for ahead.
What We're Seeing From AKTX
As mentioned above, Akari Therapeutics is having an incredibly strong day in the market today. At the opening bell, the stock was already trading slightly green. However, that proved to be just the tip of the iceberg. After a bit of movement in both directions, the stock started to spike in a big way minutes ago. Then, at 9:53, AKTX was halted at $7.50 per share after a gain of $1.01 per share or 15.56% thus far today.
Why The Stock Is Gaining
As is nearlhy always the case, our partners at Trade Ideas were the first to inform us of the gains on AKTX. As soon as we received the alert, the CNA Finance team started working to see why the stock was making a run for the top. It didn't take long to dig up the story. The gains are the result of excitement surrounding a treatment that we should be hearing more about soon.
The gains started just after chatter with regard it's C5 inhibitor surfaced. This is interesting as Akari Therapeutics announced that it would be releasing data from the Phase 2 PNH trial in the first quarter of 2017. There was also news of an R&D day that the company announced would be on April 24, 2017. It's possible that excitement is building surrounding this announcement as expectations are that data will be coming soon.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AKTX. In particular, we'll be watching for news surrounding the company's ongoing work with regard to its C5 inhibitor. Also, we're interested in seeing if any more news breaks following the halt. Nonetheless, we'll continue to follow the story and bring the news to you as it breaks!
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