Share of BriaCell Therapeutics Corp. (BCTX) surpassed 10% in the pre-market trading session today. BCTX stock saw a push of 13.82% to reach $5.93 a share at the time of this writing. It seems that BCTX stock continued the rising momentum as it went up by 18.95% at the previous closing. But what made the stock high in the stock market? Let’s try to find it.
What’s happening?
There is no particular news by the BriaCell stock today to justify the bull. No signs of analyst upgrades or upswing BCTX per share targeted price to explain the rally. However, BrialCell announced on March 30 about its selection to present the analysis result of its research related to breast cancer at the American Association for Cancer Research (AACR) Annual Meeting 2021. The dates announced for the meeting were April 10 to 15 and May 17 – 21.
The first week of the meeting is ongoing and there is a strong possibility that investors are responding to the results announced by the company in the meeting. The analysis result to be announced in the meeting would be related to the clinical analysis and pathological data of BriaCell’s lead product, Bria-IMT for treatment of advanced breast cancer as well as Phase I/IIa clinical study of Bria-IMTin combination with immune checkpoint inhibitors which include pembrolizumab, a Merck’s product, and INCMGA00012, a product of Incyte Corporation.
BCTX stock previous news:
On February 26, 2021, BCTX stock closed the underwritten public offering of its common units. 4,852,353 common units were offered in that offering with US$4.25 per unit purchase price. Each unit consisted of one share of common stock of BCTX along with one warrant to the purchase of one share of BCTX’s common stock. 1,030,000 pre-funded units were offered at the public price of US$4.24 each and consisted of a pre-funded purchase warrant of common stock and one Warrant. The US$25 million gross proceeds resulted from this offering without deducting the underwriting discounts and other related expenses.
Conclusion:
BCTX stock price is continuously rising despite no recent news by BriaCell Therapeutics. It would be interesting to see how long this trend would continue in the future. The final results of research related to breast cancer would greatly influence the future of the BriaCell stock.
