Shares of Aileron Therapeutics (NASDAQ:ALRN) were up on Tuesday morning, joining general speculation in biotech and pharmaceutical names. ALRN stock was up more than 25% at 10 a.m. Eastern.
Aileron is developing a single medicine — ALRN-6924 — to protect multiple healthy cell types throughout the body from chemotherapy while ensuring chemotherapy continues to destroy cancer cells. In the process, it hopes to eliminate chemotherapy-induced side effects.
ALRN Stock Is a Bet on Chemoprotection Treatment
Next month, the company expects to reach a critical milestone in the development of its chemoprotection treatment, as it believes that “ALRN-6924 may have the potential not only to protect bone marrow cells from chemotherapy but also to protect other cell types, such as hair follicle cells and cells lining the oral cavity, among others,” according to an announcement on its website.
The firm noted that currently there are no therapies to prevent hair loss or the painful mouth sores that patients undergoing chemotherapy often experience.
The Bottom Line on ALRN Stock
InvestorPlace analyst Louis Navellier has a “buy” total grade rating on ALRN stock. As with any penny stock, and particularly those in the biopharma space, tread carefully. As quickly as a name like Aileron could appreciate, the next minute those gains could be gone.
On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article.
InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, following fintech, agtech and property tech startups.
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