Biotech Shares Massively Bid Up Before Opening Bell

Biotech Shares Massively Bid Up Before Opening Bell

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, February 20, 2024

A Biotech stock based out of Tel Aviv has found tremendous success so far during Tuesday’s session after it was announced that the Patent Offices in Brazil and Israel have granted new patents for CM-101, the company’s first-in-class monoclonal antibody that neutralizes CCL24, a novel disease target that has been shown to play a critical role in the processes that drive diseases involving fibrosis and inflammation.

Traders aggressively bid up shares of Chemomab Therapeutics Ltd. (Nasdaq:CMMB) following the news, with traders currently willing to buy at $0.7107/share (+12.83% implied open for sellers) at the time of writing. It should be an exciting session for this micro cap!

Chemomab Therapeutics Ltd is a clinical-stage biotech company, focusing on the discovery and development of therapeutics for fibrosis-related diseases with large unmet need. The company's lead candidate, CM-101, is a monoclonal antibody that targets CCL24 and was shown to interfere with the underlying biology of liver, skin and lung fibrosis using a novel and differentiated mechanism of action. It is advancing three Phase 2 clinical trials in parallel for CM-101 treating rare fibrotic conditions.


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