- The stock price of Big Rock Partners Acquisition (NASDAQ: BRPA) increased by 88.01%. This is why it happened.
The stock price of Big Rock Partners Acquisition (NASDAQ: BRPA) increased by 88.01% as it went from a previous close of $19.19 to $36.08. There is no direct news from the company, but the stock price appears to be driven by a specific rumor.
Back in December, Big Rock Partners Acquisition announced a merger with NeuroRx, which is a clinical-stage small molecule pharmaceutical company that develops novel therapeutics for the treatment of central nervous system disorders and life-threatening pulmonary diseases.
In September 2020, NeuroRx had announced a commercial partnership with Relief Therapeutics Holding AG for the global commercialization of RLF-100 (aviptadil acetate) (now reformulated as ZYESAMITM), which is an FDA Fast Track-designated, investigational, precommercial drug for COVID-19 related respiratory failure. As part of the partnership Relief Therapeutics would have the right to fund all formulations and clinical development of aviptadil for treatment of respiratory disease in exchange for a predetermined share of profits.
This Monday, Big Rock Partners Acquisition shareholders are being asked to approve of the business combination at the annual meeting of stockholders of Big Rock Partners Acquisition Corp.
And there has been a lot of chatter on stock trading message boards that NeuroRx’s COVID-19 drug could be nearing Emergency Use Authorization (EUA) approval by the Food and Drug Administration (FDA). These rumors seem to be the catalyst for the stock price increase today.
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