Stocks To Watch: PhaseBio Pharmaceuticals, Inc [NASDAQ: PHAS] was a big gainer in Wednesday’s session. The stock closed the day with gains of 23.79%. This followed the announcement that it had completed Phase 2a trial of PB2452. PB2452 is a recombinant antibody antigen-binding fragment that is meant to reverse the antiplatelet activity of Ticagrelor. The company announced that it had achieved successful results in people between 50 and 80.
On top of that, the company announced that it is on the right track with regards to regulations, as it prepares to take the program into phase 2b trials in Q4. The company also announced that it intends to go through with phase 3 of this trial in Q1 of 2020.
Going by its price action yesterday, PHAS was trying to make a bullish reversal. After the PB2452 news hit the market the stock gapped up, and closed the day at $4.84 after hitting a high of $5.24. The volume yesterday was quite high too and stood at 8.54 million shares in the day. If it pushes above yesterday’s high of $5.24 today, there could be a chance that it sustains this bullish sentiment, and possibly enter into a bull trend. Nonetheless, it has eased up pre-market and at the time of writing, it is down by 2.89%. In the day, factors that are could move the markets include China-U.S relations and possible impeachment proceedings. Yesterday, the markets gained after Trump hinted at a deal with China.
About PhaseBio Pharmaceuticals Inc
PhaseBio Pharmaceuticals Inc is a clinical-stage biopharma company that has its headquarters in Malvern Pennsylvania. It focuses on the development of ground-breaking therapies for the treatment of orphan diseases. The company’s top product is PB2452, which was the basis of good news around this company in yesterday’s trading session. It is also behind PB1046, a trial treatment for pulmonary arterial hypertension.