Why Is Bionomics (BNOX) Stock Up 347% Today?


  • Bionomics (BNOX) stock is taking off alongside clinical trial updates.
  • The company’s PTSD treatment performed well in a Phase 2b trial.
  • That has shares of BNOX stock seeing heavy trading on Thursday!
BNOX Stock - Why Is Bionomics (BNOX) Stock Up 347% Today?

Source: Shutterstock

Bionomics (NASDAQ:BNOX) stock is rocketing higher on Thursday alongside results from a clinical trial.

The clinical-stage biotechnology company revealed results from its Phase 2b ATTUNE trial of BNC210. This covers the drug’s use as a treatment for patients with Post-Traumatic Stress Disorder (PTSD).

The big news from this study is it met its primary endpoint. That means patients taking the drug saw a change in the Clinician-Administered PTSD Scale for DSM-5 (CAPS-5) total symptom severity score over 12 weeks.

In addition to that, the clinical trial also met secondary endpoints. That includes improvements in depression and insomnia, as well as positive signals across other measurable scales used during the trial.

Murray Stein, M.D., M.P.H., a consultant for Bionomics, said the following about the news:

“This a promising step forward for patients with PTSD, where the majority do not achieve clinical remission with current therapies and there have been no newly approved therapies in the past 20 years.”

What’s Next for BNOX Stock

Bionomics notes that it plans to further the development of BNC210 as a PTSD treatment. The company says that it will seek registrational studies next. It also intends to go over today’s clinical trial news in a conference this morning.

BNOX stock is seeing incredibly heavy trading following the clinical trial news. That has some 13 million shares of the stock changing hands. To put that in perspective, its daily average trading volume is only about 246,000 shares.

BNOX stock is up 346.9% as of Thursday morning.

Investors looking for more of the most recent stock market news will want to keep reading! That includes the biggest pre-market stock movers this morning, the latest news concerning Salesforce (NYSE:CRM) stock, and more. All of that news is ready to go at the links below!

More Thursday Stock Market News

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 risk.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not have (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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/09/why-is-bionomics-bnox-stock-up-347-today/.

©2024 InvestorPlace Media, LLC