Biotech Catches Major Premarket Bid

Biotech Catches Major Premarket Bid

Biotech Catches Major Premarket Bid By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, July 5, 2023

A Seattle-based biotech company is turning heads on Wednesday morning after it was announced that the company received a US patent for its respiratory tract delivery of levodopa and DOPA decarboxylase inhibitor for Parkinson’s disease, according to the release.

Traders were quick to snatch up shares of Impel Pharmaceuticals Inc. (Nasdaq:IMPL) following the announcement, with bids currently at $1.70/share (+36.35% implied open for sellers). It should be an exciting session for this micro cap.

Impel Pharmaceuticals Inc is a commercial-stage pharmaceutical company focused on utilizing its proprietary technology to develop and commercialize transformative therapies for patients suffering from diseases with high unmet medical needs, with an initial focus on diseases of the central nervous system. The company is developing an approach to drug delivery that administers specific formulations of drugs deep into the vascular-rich upper nasal space, a gateway for therapeutic administration of a versatile range of molecules and formulations.


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