Alcobra Ltd (NASDAQ: ADHD)
Alcobra is having an incredibly rough day in the market today. When the opening bell rang, the stock was already well in the red. From there, we’ve seen a continuation of declines throughout the first 20 minutes or so. Unfortunately, things just aren’t looking good. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to ADHD ahead.
What We’re Seeing From ADHD
As mentioned above, Alcobra isn’t having the best of days in the market today. Unfortunately, when the market opened, the stock was already trading sell into the red. Since the opening bell, we’ve seen a continuation of the declines, bringing the stock further and further into the abyss. At the moment (9:51), ADHD is trading at $0.96 per share after a loss of $0.94 per share or 49.47% thus far today.
Why The Stock Is Falling
As is usually the case, our partners at Trade Ideas were the first to let us know that ADHD was making a run for the bottom. As soon as they did, the CNA Finance team started digging to see exactly what was causing the movement. In this case, it didn’t take long to dig up the story. Unfortunately, the declines are being caused by bad news that was released by the company early this morning.
For some time now, Alcobra has been working on an ADHD drug, which until today’s announcement was in late-stage trials. Unfortunately, it was announced today that the trials have proven to be a failure. Of course, this is overwhelmingly upsetting to investors, sending the stock downward.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ADHD. In particular, we’re interested in learning more about the company’s next steps following the failed late-stage trial. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!
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[Image Courtesy of Pixabay]