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Why Is PaxMedica (PXMD) Stock Up 95% Today?


  • PaxMedica (PXMD) stock is gaining alongside the release of clinical trial results.
  • The company saw positive effects of using low-dose suramin intravenous infusions to treat ASD symptoms.
  • That has shares of PXMD stock rocketing with heavy trading on Tuesday.
PXMD Stock - Why Is PaxMedica (PXMD) Stock Up 95% Today?

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PaxMedica (NASDAQ:PXMD) stock is rising higher on Tuesday as investors celebrate the company’s publication of Phase 2 clinical trial results.

The study was published in the Annals of General Psychiatry and focused on the use of low-dose suramin intravenous infusions as a treatment for Autism Spectrum Disorder (ASD). The study was double-blind and placebo-controlled and lasted for 14 weeks, with the patients being boys ranging in age from four to 15 years.

The results from the study showed positive results in the 10 mg/kg suramin dosage. That includes significant improvements in the Clinical Global Impressions-Improvement scale when compared to the group taking a placebo.

What This Means for PXMD Stock

Investors are excited about the potential for PaxMedica to treat symptoms of ASD. That has resulted in heavy trading of PXMD stock on Tuesday, with some 23 million shares changing hands. For the record, its daily average trading volume is closer to 141,000 shares.

PXMD stock is up 94.8% as of Tuesday morning.

Investors looking for even more of the most recent stock market stories are going to want to keep reading!

We’re offering all of the latest stock market news that traders need to know about on Tuesday! Among that is what’s going on with shares of Vivid Seats (NASDAQ:SEAT), Lucid Motors (NASDAQ:LCID) and Ault Alliance (NYSEMKT:AULT) stock today. You can find out more about these topics at the following links!

More Stock Market News for Tuesday

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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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/11/why-is-paxmedica-pxmd-stock-up-95-today/.

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