ORPH Stock Price: Over 50% Decrease Pre-Market Explanation

By Amit Chowdhry ● June 11, 2021
  • The stock price of Orphazyme A/S (NASDAQ: ORPH) fell by over 50% pre-market. These are the details.

The stock price of Orphazyme A/S (NASDAQ: ORPH) fell by over 50% pre-market. This is a pullback from a surge yesterday as it increased 302.3%, going from a previous close of $5.22 to $21. 

Early this morning, Orphazyme issued a press release addressing the recent trading activity. 

The company said it is not aware of any material change in its clinical development programs, financial condition, or results of operations that would explain such price volatility or trading volume that has occurred since June 10, 2021. 

“Investors who purchase the company’s ADS or shares may lose a significant portion of their investments if the price of such securities subsequently declines,” said the company in a statement. “Orphazyme’s applications for arimoclomol (to be branded MIPLYFFATM)1 for Niemann-Pick disease type C (NPC) are under priority review with the U.S. Food and Drug Administration, with an expected PDUFA action date of June 17 2021, as well as with the European Medicines Agency, with an opinion from the Committee for Medicinal Products for Human Use (CHMP) expected later this year.”

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