RE:RE:News Release Wording Over The Top?Texas cancer-focused biotech Moleculin said its shares had been placed in a temporary trading halt following notification from the SEC.
The small company, which has a market cap of about $65 million, has been making statements in a smattering of regulatory filings and press releases since March 19 suggesting its experimental drug, WP1122, was a potential candidate for use in Covid-19 and that it could expedite the regulatory approval of the treatment. Between March 18 and May 1st (when the trading suspension came into effect), the value of the company’s stock has more than doubled to $1.o7.
The suspension will terminate at 11:59 p.m. ET on May 15th, 2020. Moleculin said it believes it will be able to demonstrate the accuracy and adequacy of its public disclosures.
suomynona wrote: Pumpty Dumpty sat on a wall... nobody making a discovery as earth shaking as purported, would have to pay for a news release.
suomynona wrote: Trading halt is not surprising; that purported news would be front page 'round the world if it weren't a little too good to be true.