Hancock Jaffe Laboratories Inc (NASDAQ: HJLI) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that it has selected the site for a first in-human clinical trial. As you would expect, the news proved to be exciting for investors, sending the stock screaming for the top. Today, we’ll talk about:
- The news;
- what we’re seeing from HJLI as a result;
- and what we’ll be watching for ahead.
HJLI Announces Study Site Selection
As mentioned above, Hancock Jaffe Laboratories is having an incredibly strong start to the trading session this morning after selecting a site for first-in-human trials. In a press release issued early this morning, the company announced that it has selected Fundación Santa Fe de Bogotá (“FSFB”), in Bogota Columbia, as the site for the first-in-human testing of its VenoValve(R) bioprosthetic device. In the release, HJLI said that FSFB owns the 205 bed University Hospital in Bagota. The hospital was the first in Columbia to receive the distinguished Joint Commission International accreditation.
In the release, HJLI said that it will begin the process of having the protocol for the study approved by FSFB’s research and ethics committees. While no specific time frame has been announced with regard to the protocal approvals required, the company said that it expects to have all necessary approvals and paperwork in place well before the goal of begining the trial by the fourth quarter of this year.
The VenoValve is being developed as a treatment for severe cases of Chronic Venous Insufficiency, or CVI. CVI happens when valves in the veins of the deep venous system in the leg are injured or destroyed. This ultimately causes blood to pool in lower extremeties, leading to swelling, debilitating pain, and in some cases, skin ulcerations. Currently, it is estimated that CVI results in 700,000 hospitalizations per year, making the market for HJLI massive should the VenoValve reach approval.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news cause moves. in the case of Hancock Jaffe Laboratories, the news proved to be overwhelmingly positive. After all, with the first-in-human studies just around the corner, excitement among investors will build. So, it’s no surprise to see that investors are sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. currently (9:30), HJLI is trading at $5.34 per share after a gain of $0.74 per share or 16.14% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on HJLI. In particular, we’re interested in following the story surrounding the first-in-human studies of VenoValve as the treatment has shown some seriously promising pre-clinical results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Disclaimer- CNA Finance is NOT an Investment Advisor. Our goal is to bring both news and under discovered stocks to the attention to investors to assist in making smart decisions in the market. CNA Finance is a for profit company. That profit is generated through three (3) different types of relationships. First and foremost, we work with pay per click and CPM advertisers on banners. We also have affiliate relationships with various companies where we earn a portion of the sales we refer. Finally, we may have relationships with some of the companies or IR firms that represent companies mentioned within our works in which we are compensated in cash and or stock for consulting, investor relations, and Press Release services. Invictus Resources paid CNA Finance $6,000 for research and writing services as well as other digital investor relations tasks provided to Hancock Jaffe Laboratories. Therefore, while we do everything in our power to provide true, well-researched, and well-thought out opinions, in some instances, a potential conflict of interest may exist. CNA Finance encourages all investors to seek professional advice before making any investment decision.
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