- The stock price of XTL Biopharmaceuticals (NASDAQ: XTLB) has increased by over 100% pre-market. This is why it happened.
The stock price of XTL Biopharmaceuticals (NASDAQ: XTLB) – a biopharmaceutical company that engages in the acquisition and development of pharmaceutical products for the treatment of autoimmune diseases – has increased by over 100% pre-market as of 6:40 AM ET. There is no notable news or SEC reports from the company so it seems like there are external factors at play.
I’m speculating that investors could be responding to a press release by Research and Markets about how the “Global Recombinant Proteins Market by Product (Growth Factors, Chemokines, Structural Proteins, Membrane Proteins), Application (Drug Discovery & Development, Academic Research), End-user (Biotechnology Companies, CROs), and Region – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering. The report does not cite XTL Biopharmaceuticals, but it highlights the broader market opportunity in the company’s industry.
The report points out that the global recombinant proteins market is projected to reach $1.7 billion by 2026 from $1 billion in 2021 at a CAGR of 9.8% during the forecast period. And the market growth is primarily driven by factors such as increasing government investments and R&D expenditure in pharmaceutical & biotechnology companies, growing industry academia collaborations, and the patent expiry of biologic products. The emerging markets in Asian countries and the rising focus on personalized medicine and protein therapeutics are other factors expected to offer strong growth opportunities for players in the recombinant proteins market. And the declining cost of recombinant proteins may restrict market growth to a certain extent.
“Recombinant Human Erythropoietin (“rHuEPO”), a known agent for anemia, is being developed to prolong the survival of patients with advanced Multiple Myeloma (‘MM’). Our rHuEPO for the treatment of multiple myeloma blood cancer was granted an orphan drug designation from the FDA in 2011,” says the pipeline section of the XTL Biopharmaceuticals website.
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