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ANCN Stock: 10 Things to Know as Anchiano Therapeutics Rockets Higher

Anchiano Therapeutics (NASDAQ:ANCN) is on an absolute tear today! The stock has skyrocketed as much as 150% at the time of writing on the announcement that its first patient has been enrolled in a clinical trial for a treatment aimed at “liver, skin, and lung fibrosis-related diseases such as PSC and systemic sclerosis (SSc).”

colorful pills and vials sitting on a table

Source: Bukhta Yurii / Shutterstock.com

This announcement signals the company’s on the right track with gaining approval with the U.S. Food and Drug Administration for this treatment. Currently, no disease-modifying drugs have been approved by the FDA for these disorders.

Here are ten things investors need to know about Anchiano therapeutics:

  • ANCN stock has been on a tear since a merger with Chemomab was announced in mid-December. Accordingly, the stock has moved from below the $2 level toward the $6 level in a span of a couple months.
  • This merger shifted the focus of Anchiano to Chemomab’s key products aimed at liver, lung and skin ailments.
  • Initial results from phase-one data has been positive, with safety, tolerability, and biomarker readouts showing positive signs.
  • The clinical study underway is taking place in the U.K and Israel. Up to 45 randomized patients are expected to be included in the trial.
  • This clinical trial enrollment is significant as it starts the timeline for getting these therapies approved. Accordingly, the company expects clinical readouts over the next 12-18 months to drive value inflection with this stock.
  • The fact that there are no current therapies that exist for these disorders puts the Anchiano-Chemomab entity in a strong market position.
  • Additionally, the potential market for these drugs is enticing. According to the company’s financial presentation, the combined market for PSC and SSc is worth more than $2 billion. More than 200,000 patients are inflicted with these diseases.
  • It appears the market is rewarding execution with this company right now. Expectations were that these clinical trials could be delayed due to the global pandemic. Indeed, the fact that trials have started on time is good news for long-term investors interested in these therapies.
  • A confirmation of the positive results seen in animals has the potential to drive this stock much higher as the company gets closer to capturing this specific niche drug market.
  • This is an early-stage clinical stock. Accordingly, there is a tremendous amount of speculation built into ANCN’s stock price right now. This company is executing its strategy well, but investors need to understand the intricacies of this company’s operations before investing.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/02/ancn-stock-10-things-to-know-as-anchiano-therapeutics-rockets-higher/.

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