Acer Therapeutics (NASDAQ:ACER) stock is on the rise Monday as investors speculate about a possible merger with Relief Therapeutics.
According to this rumor, Relief Therapeutics could acquire Acer Therapeutics. The rumor comes after Relief Therapeutics raised funds through a private placement. The two companies also signed an exclusivity deal for the development and commercialization of ACER-001 back in January.
The rumor of Acer Therapeutics and Relief Therapeutics merging is increasing interest in ACER stock this morning. As a result, more than 17 million shares of the stock have changed hands. For comparison, the stock’s daily average trading volume is about 905,000 shares.
With all the extra attention on ACER stock, investors are sure to be seeking more information about the company. That’s where the breakdown below comes into play.
- Acer Therapeutics is a pharmaceutical company focused on developing “therapies for serious rare and life-threatening diseases with significant unmet medical needs.”
- The company currently has four programs in its pipeline.
- Chief among these is ACER-001.
- This is a treatment in development for various inborn errors of metabolism.
- That includes “urea cycle disorders (UCDs) and Maple Syrup Urine Disease (MSUD).”
- Acer Therapeutics was founded in 2013.
- ACER stock went public four years later in September 2017 via an IPO.
- The company is lead by Chris Schelling, who has “21 years of commercial strategy and orphan drug development expertise.”
- Schelling is the founder, president, and CEO of Acer Therapeutics.
ACER stock was up 19.9% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.