DRTS - Alpha Tau stock retreats after rallying 25% in prior session on production update

Shares of Israeli medical device maker Alpha Tau (DRTS) slid 11% on Friday after rallying 25% the previous day on news that it had received two licenses that would enable it to expand production. Alpha Tau shares opened at $11.75, recently changing hands at $11.09, down 11%, at approximately 3:20 p.m. ET. On Thursday, Alpha Tau announced that it had received a new radioactive license for its manufacturing facility in Jerusalem and an expanded radioactive license for its site in Lawrence, Mass. Shares of Alpha Tau shot up 25% on Thursday to close at $12.41. Based in Israel, Alpha Tau has developed an alpha radiation therapy device called Alpha DaRT for the treatment of solid tumors. The company went public in late February through a merger with SPAC Healthcare Capital that valued the combined company at a pro forma equity value of $1B.

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Alpha Tau stock retreats after rallying 25% in prior session on production update