CHEK Stock Price Falls Over 10% Pre-Market: Why It Happened

By Amit Chowdhry ● Mar 16, 2021
  • The stock price of Check Cap Ltd (NASDAQ: CHEK) fell by over 10% pre-market. This is why it happened.

The stock price of Check Cap Ltd (NASDAQ: CHEK) fell by over 10% pre-market. Many investors are likely selling their positions in order to collect profits from the company’s recent rally.

On March 15, the stock price of CHEK jumped 163.73%. The stock price rallied after the company announced that the U.S. Food and Drug Administration (FDA) has approved the company’s Investigational Device Exemption (IDE) application, permitting Check-Cap to begin a pivotal study of C-Scan in the U.S.

C-Scan is intended for candidates who are at average-risk for CRC and who are poor candidates for colonoscopy or decline colonoscopy, or who had an incomplete optical colonoscopy. And the pivotal study will evaluate safety and performance of C-Scan as well as subject compliance with C-Scan. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.