Synthetic Biologics (NYSEAMERICAN:SYN) stock is soaring higher on Tuesday even without a lack of news concerning the company.
Thye jump is SYN stock today comes as it experiences heavy trading. As of this writing, more than 146 million shares of the stock have moved. For comparison, the daily average trading volume of the stock is just 1.12 million shares.
So what exactly has SYN stock on the rise today? The exact reason is unclear but it could be a combination of factors. The fact that it’s a penny stock means that it’s vulnerable to volatility. That makes it easy for investors to largely influence the stock’s price. There’s also the possibility that Robinhood traders have taken an interest in the company and are behind today’s movement.
With investors eyeing SYN stock today, it’s important to know more about the company. Here’s what potential investors need to know about Synthetic Biologics.
- The company’s focus is on the development of “therapeutics designed to prevent and treat gastrointestinal (GI) diseases.”
- It’s still in the clinical stage at the moment but has several products in its pipeline.
- Synthetic Biologics leading candidates are SYN-004 and SYN-020.
- SYN-004 is a treatment designed to degrade certain intravenous beta-lactam antibiotics within the gastrointestinal (GI) tract.
- SYN-020 is an oral treatment in the works to treat both local GI and systemic diseases.
- SYN-004 is current in Phase 2 clinical trials while SYN-020 is still preclinical.
SYN stock was up 157.9% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.