Apollomics (NASDAQ:APLM) stock is rising higher on Friday as the shares bounce back on recent study results.
Those study results cover the “efficacy response of a patient treated with vebreltinib for GBM with PTPRZ-MET fusion.” These results showed a strong partial response following eight weeks of treatment.
Guo-Liang Yu, Ph.D., co-founder, chairman and CEO of Apollomics, said the following about these clinical trial results:
“PTPRZ-MET fusions are known to cause aggressive forms of GBM and are associated with poor prognosis. We are pleased to achieve positive clinical results in patients with this deadly disease, further demonstrating the potential of vebreltinib as a new treatment for patients with cancers driven by MET alterations.”
APLM Stock Movement
Investors will note that when Apollomics initially announced this news on Thursday, its stock closed out trading down 26.2%. That came with some 755,000 shares traded, as compared to its daily average of around 53,000 shares.
Now, the stock is undergoing a massive rally, with shares up 113% during pre-market trading on Friday. That comes with more than 8 million shares of APLM stock changing hands as of this writing
It seems yesterday’s selloff and price drop inspired investors to purchase the company’s shares today. However, this could also be a case of retail traders jumping on a penny stock to pump it up before dumping it.
There’s more stock market news that traders are going to want to know about down below!
We’re offering up all of the most recent stock coverage investors need to read about on Friday! Among that is what has shares of NKGen Biotech (NASDAQ:NKGN) up, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the following links!
More Stock Market News for Friday
- Why Is NKGen Biotech (NKGN) Stock Up 18% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- VLVLY Stock Alert: Volvo Ramps Up EV Production Due to Demand
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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.
