Ocera Therapeutics Inc (NASDAQ: OCRX)
Ocera Therapeutics is having an incredibly good time in the pre-market hours today. After the company offered up an early morning announcement the stock started to soar. Today, we’ll talk about what we’re seeing from OCRX, why the stock is making such a strong run for the top, and what the CNA Finance team will be watching for ahead.
What We’re Seeing From OCRX
There’s no better way to say it than that Ocera Therapeutics is skyrocketing in the market this morning. While the trading session hasn’t opened quite yet, investors are clearly all over this thing following a positive announcement by the company. Currently (8:43), OCRX is trading at $0.81 per share after a gain of $0.21 per share or 36.13% thus far today.
Why The Stock Is Rocketing Upward
Trade Ideas was the first of our partners to bring the gains on OCRX to our attention. As soon as we received the alert, the CNA Finance team started working to see why the stock was skyrocketing. In this particular case, it didn’t take long to find the meat on the bones so to speak. Ultimately, the gains are the result of a positive announcement surrounding Phase 2 data that the company made early this morning.
In the announcement, Ocera Therapeutics reiterated that IV OCR-002 showed statistically significant improvement in the ability to normalize ammonia faster than the standard of care. This is great news as ammonia reductions are correlated with clinical improvement in HE symptoms. The company also said that it plans to meet with the FDA in the 3 quarter of 2017 to discuss development paths for the treatment. Finally, OCRX will be presenting more data surrounding the treatment today at 11:20 am ET.
What We’ll Be Watching For Ahead
OCRX will definitely be on the top of the watch list for the CNA Finance team ahead. In particular, we’ll be following the company’s ongoing work with regard to IV OCR-002. Of course, as the news breaks, we’ll be sure to bring it to your attention!
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