Catalyst Pharmaceuticals Inc (NASDAQ: CPRX)
Catalyst Pharmaceuticals is having an incredibly strong day in the market today, following up on gains that we’ve seen on the stock since yesterday. The stock started the day slightly in the green, and throughout the day, has continued upward. Below, we’ll talk about what we’re seeing from CPRX, why, and what we’ll be watching for ahead.
What We’re Seeing From CPRX
As mentioned above, Catalyst Pharmaceuticals is having a relatively strong day in the market today. At the opening bell, the stock was already trading well into the green. Since then, we’ve seen a continuation of gains, bringing the stock further and further into the gains. At the moment (11:17), the stock is trading at $1.64 per share after a gain of $0.47 per share or 40.02% thus far today.
Why The Stock Is Climbing
First and foremost, we’d like to extend a thank you to our friends at Trade Ideas for being the first to inform us of the gains. With that said, as soon as we received the alert, the CNA Finance team started digging to see why the stock was making a run for the top. While there has been no news released today with regard to the stock, we do believe that we found the reason for the gains.
Ultimately, the gains are the result of news that broke yesterday. Yesterday, investors learned that Catalyst Pharmaceuticals has teamed up with Biocept Inc (NASDAQ: BIOC). The partnership surrounds liquid biopsy testing for small cell lung cancer. With Biocept’s success in that arena, it only makes sense that investors in CPRX would be excited about the partnership.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CPRX. In particular, we’re watching the ongoing work surrounding liquid biopsy testing in the partnership with Biocept. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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