ARCA Biopharma Inc (NASDAQ: ABIO) is having yet another incredibly strong start to the trading session after yesterday’s tremendous gains. While there are no new press releases or SEC filings this morning, the gains are here fore good reason. Today, we’ll talk about:
- Why ABIO stock is running for the top;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Read my full report on ABIO here!
Why ABIO Is Running For The Top
As mentioned above, ARCA Biopharma is having yet another incredibly strong start to the trading session this morning. The gains follow yesterday’s tremendous growth in the value of the stock. So, what’s the deal?
The gains started yesterday after the company announced the publichation of a paper titled GENETIC-AF: Bucindolol for the Maintenance of Sinus Rhythm in a Genotype-Defined Heart Failure Population.” The paper provided a detailed look at the company’s work with bucindolol, an experimental drug under development for atrial fibrillation.
Importantly, the paper was upblished in the peer-reviewed journal, JACC: Heart Failure, a well-respected journal of the American College of Cardiology. The paper outlined the benefits of bucindolol in certain Atrial Fibrillation and Heart Failure patients that is under development at ABIO. The paper explained that in some populations, bucindolol performed better than metoprolol succinate, the current standard of care.
In a statement, Dr. Michael R. Bristow, President and CEO at ABIO and co-author on the paper, had the following to offer:
Atrial fibrillation (AF) is a common and serious medical problem associated with significant morbidity and mortality, especially in patients with heart failure (HF). Development of AF is associated with increased risk of adverse cardiovascular outcomes, and when AF occurs in patients with HF these adverse effects are accentuated. AF and HF often co-exist and have common risk factors, as well as overlapping pathophysiologies.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of ARCA Biopharma, the news proved to be overwhelmingly positive.
After all, the paper discussed in yesterday’s release showed that in some patient populations, the company’s bucindolol treatment outperformed the current standard of care. That means that in this high-value indication, the comapny’s treatment stands to become a leader, should it be approved by the FDA.
So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:55), ABIO is trading at $18.50 per share after a gain of $7.99 per share or 80.49% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ABIO. In particular, we’re interested in following the story surrounding the company’s continued work to bring bucindolol to market as the treatment could prove to be an incredible source of revenue. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!