Clinical stage pharmaceutical firm Theralase Technologies Inc (OTCMKTS:TLTFF) saw its stock emerged as one of the major mover over the course of the past few days and the trend remained the same on Monday as the stock soared by as much as 13%.
Trading Data
On Monday, TLTFF stock moved up 12.80% to $0.3449 with more than 344k shares, compared to its average volume of 164k shares. The stock moved within a range of $0.3156 – 0.3704 after opening trade at $0.3204.
Theralase® Demonstrates Proof-of-Concept for Canadian-Made COVID-19 Vaccine
However, that is not all. The rally seen in the Theralase Technologies stock on Monday took the gains over the course of the past week to as much as 18%. Yesterday, the company came into focus after it managed to successfully demonstrate the proof of concept in relation to COVID 19 vaccine.
It was a major new development for the company considering the fact that it could now be on the path to developing its vaccine. In light of the sort of gains that were seen in the stock yesterday it is going to be interesting to see if the Theralase Technologies stock can manage to hold on to its momentum over the rest of the week.
The results from the proof of concept could form the basis of the next stage of the development of the vaccine. Investors could consider keeping an eye on the stock at this point.
Key Quote
Darwyn Kobasa, Ph.D., Head, High Containment Respiratory Virus Group, Special Pathogens, PHAC, stated, “My team’s initial results indicate that, when activated by light, TLD-1433 is very effective in inactivating the COVID-19 virus at low concentrations, thus demonstrating proof-of-concept in the development of a Canadian-made COVID-19 vaccine.”
Technical Data
TLTFF stock is trading above the 20-Day and 200-Day Moving averages of $0.29 and $0.27 respectively. However, the stock is trading below the 50-Day moving average of $0.20. The stock is up 30% in the past month.