- The stock price of Protagenic Therapeutics Inc (NASDAQ: PTIX) increased by over 25% pre-market. These are the details.
The stock price of Protagenic Therapeutics Inc (NASDAQ: PTIX) increased by over 25% pre-market. This is a continuation in momentum as the stock price increased 13.14% yesterday, going from a previous close of $2.36 to $2.67. There is no company-specific news driving the stock price up.
It appears that retail investors on social media are driving the frenzy today. There are a number of Discord chat rooms where users are recommending the stock due to a low float and pending FDA news. There has also been a surge in smaller cap biotech stocks this week, which could also be driving the uptick in PTIX.
Around this same time last month, PTIX also increased by over 80% during intraday trading due to speculation about pending FDA approval.
Currently, Protagenic Therapeutics is testing PT00114 in healthy volunteers and patients with PTSD, Anxiety and Depression. And PT00114 – Protagenic’s lead drug compound – is known scientifically as teneurin C-terminal associated peptide (TCAP), a naturally occurring peptide responsible for the regulation of stress response in the brain. So far, PT00114 has demonstrated compelling efficacy potential with a strong safety profile in extensive preclinical models.
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