Biotech Shares Experience Massive Premarket Buying Pressure

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, August 15, 2023

A small cap in the biotech space is gaining some serious steam during Tuesday’s premarket hours after the company announced that the U.S. Food and Drug Administration (FDA) has cleared the Investigational New Drug (IND) application for intranasal foralumab to be studied in Alzheimer's disease.

This major announcement had traders eager to get their hands on shares of Tiziana Life Sciences Ltd. (Nasdaq:TLSA) ahead of any potential major moves that come from the news. At the time of writing, shares of this stock are bid up at $0.915/share, which indicates an implied open +51.92% higher than yesterday’s close.

Tiziana Life Sciences Ltd is a clinical-stage biotechnology company that specializes in developing transformative therapies for autoimmune and inflammatory diseases, degenerative diseases, and cancer-related to the liver. Its clinical pipeline includes drug assets for Crohn's Disease, COVID19, Secondary Progressive Multiple Sclerosis, and Hepatocellular Carcinoma. Its development pipeline includes Foralumab, Milciclib, Anti-IL6R, and Others. The company has a single reporting segment, which is the research and development of biotechnological & pharmaceutical products.

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