Protalix Biotherapeutics Rg (NYSEMKT: PLX)
Protalix Biotherapeutics is having an incredibly strong day in the market today. After starting the day in the green, the stock quickly headed up further. Throughout the morning, we’ve seen movement in both directions, but strong gains seem to be here to stay – at least for now. Below, we’ll talk about what we’re seeing from PLX, why the stock is having such a strong day in the market, and what we’ll be watching for ahead.
What We’re Seeing From PLX
As mentioned above, today’s trading session is proving to be a great one for PLX. At the opening bell, the stock was already trading slightly in the green. From there it spiked up before correcting and going on a slow and steady upward run. Currently (10:53), PLX is trading at $1.30 per share after a gain of $0.12 per share (10.17%) thus far today.
Why The Stock Is Up
As is nearly always the case, our friends at Trade Ideas were the first to inform us of the upward movement on PLX. As soon as the CNA Finance team received the alert, we started working to see why the stock was making a run for the top. In this particular case, it didn’t take long to dig up the story. The gains seem to be the result of anticipation of results leading to investor excitement.
In a recent article on Yahoo Finance, investors saw confirmation that full results from the company’s Phase 2 trial surrounding their Cystic fibrosis drug candidate known as AUIR DNAse are to be released. It is expected that the full release of data from the Phase 2 clinical trial will be available on March 16th. As a result of the confirmation of this date, investors are excited, leading to big gains.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching PLX incredibly closely. In particular, we’re excited for the full Phase 2 clinical data that should be released on March 16th. As always, we’ll continue to follow the story closely and bring the news to you as it breaks!
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