Coronado Biosciences Inc common stock (NASDAQ: FBIO)
Coronado Biosciences is having an incredibly strong day in the market today. When the opening bell rang, the stock was already on dramatic gains. While it has fallen slightly from the open price, it looks like the stock will close up in a big way. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to FBIO ahead.
What We’re Seeing From FBIO
As mentioned above, Coronado Biosciences is off to a very strong day in today’s trading session. As soon as the opening bell rang, the stock was trading on highs thanks to great pre-market activity. Since then, we’ve seen some downward movement, but the gains are still very impressive. At the moment (9:57), FBIO is trading at $2.87 per share after a gain of $0.58 per share (25.28%) thus far today.
Why We’re Seeing Gains
As usual, our partners at Trade Ideas were the first to inform us of the run on FBIO. As soon as they did, the CNA Finance team started digging to see what was causing the movement. In this particular case, it didn’t take long to dig up the story. It seems as though the gains are being caused by a big after-hours announcement made by the company yesterday.
In the announcement, Coronado Biosciences announced that a patient case study from the Phase 1 clinical trial of MB-101 for the treatment of gioblastoma will be published in the December 29th edition of the New England Journal of Medicine. MB-101 is the lead development candidate of Mustang Bio, a subsidiary of FBIO.
What We’ll Be Watching Ahead
Moving forward, the CNA Finance team will be keeping a close eye on FBIO. In particular, we’ll be watching the progression of the company’s promising pipeline as well as the progression of its subsidiaries. We’ll keep a close eye on the news and bring it to you as it breaks!
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