Better Therapeutics (NASDAQ:BTTX) stock is taking off on Tuesday as investors react to approval from the U.S. Food and Drug Administration (FDA) for a Type 2 diabetes treatment.
This covers AspyreRx, which is a “prescription-only digital therapeutic (PDT) treatment indicated to provide cognitive behavioral therapy to patients 18 years or older with type 2 diabetes (T2D).”
According to Better Therapeutics, AspyreRx was granted marketing approval based on results from its studies, which met both primary and secondary endpoints. With this approval, the company expects to launch AspyreRx commercially during the fourth quarter of 2023.
Frank Karbe, CEO of Better Therapeutics, said the following about the news:
“This regulatory milestone signals a promising future where technology, psychology, and medicine converge to address for the first time the behavioral causes of disease for the 37 million patients living with T2D in the U.S. […] This De Novo authorization also provides a foundation for potential future growth opportunities.”
BTTX Stock Movement Today
With today’s news comes heavy trading of BTTX stock. As of this writing, more than 9.8 million shares have changed hands. To put that in perspective, its daily average trading volume is closer to 182,000 shares.
BTTX stock is up 38.9% as of Tuesday morning.
Investors seeking out even more of the most recent stock market news will want to stick around!
We have all of the latest stock market coverage that traders will want to read about on Tuesday! Among that is what has shares of CytoMed Therapeutics (NASDAQ:GDTC) stock rising today, the biggest pre-market stock movers this morning and more. You can catch up on all of these matters by checking out the following links!
More Stock Market News For Tuesday
- Why Is CytoMed Therapeutics (GDTC) Stock Up 157% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- GOEV Stock Alert: Canoo Expands Partnership With U.S. Department of Defense
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
