Biotech Soars After Strategic Reorganization Announcement

Biotech Soars After Strategic Reorganization Announcement

By: Tomas Ronolski - News

Wednesday, November 29, 2023

A Massachusetts-based biotech company captured the attention of the trading community on Wednesday after it was announced that the company will undergo a strategic reorganization to prioritize investment in the development of its cell-targeted lipid nanoparticle (ctLNP) delivery system for wholly-owned programs in extrahepatic cell types, according to the release.

Traders saw this as a bullish signal for shares of Generation Bio Co. (Nasdaq: GBIO) as shares of this small cap traded up to $1.19/share (+6.25%) at the session high. This move could be an indication of things to come seeing that the biotech sector has been on a tear lately and this stock certainly has room to run.

Generation Bio Co is a genetics medicine company that is focused on creating gene therapies to provide durable and redosable treatments for patients suffering from rare and untreated diseases. The company focuses on liver and retina related diseases.

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