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New Drug Trial Data Gives Major Boost to Pharmaceutical Stocks

Stocks are jumping 200 and 300% after trial data came back promising for a few upcoming medications.

Stocks are in Panic Mode

Vivani medical stock jumped 385% on the Nasdaq Composite with trial results that showed its new weight loss drug could hold promise. The stock is at $4.89 and gaining thanks to news that a medical implant could help people lose weight. This is from clinical trials involving mice, so further testing is to be expected.

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Vivani was not the only medical stock on the rise, with Janux Therapeutics gaining 230% after promising testing data for its medical products for treating prostate cancer. The stock then fell on Wednesday, down 5.51%, but it was nowhere near enough of a drop to erase the recent gains. On Monday, Janux stock was at $15.10 a share. After the drop today, the stock is sitting at $47.01.

Adail Pharmaceuticals is up 158% on Wednesday after receiving a patent for a new addiction treatment drug. The company has been testing a variety of drugs for treating different kinds of addictions, and the patent is for a drug that targets the gene that transports serotonin. That could help with opioid addiction and other similar health issues.

Nasdaq at a Glance

The Nasdaq Cost is down 0.29% despite several skyrocketing stocks. The index benefitted from a few technology stocks and pharmaceutical stocks doing very well, but it was held back by poor performances by RiskOn International and Wetouch Technology, which lost 70% and 40% respectively on Wednesday.

A number of stocks are performing poorly on the Nasdaq Composite today, including major stocks like T-Mobile, Walgreens, and Warner Bros. Overall, the indexes are seeing little change from yesterday, though a few stocks are moving quite a bit after new trial data and new quarterly earnings data have been released.

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Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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