DRTS - Medical device maker Alpha Tau stock rallies 17% following days of decline

Medical device maker Alpha Tau (DRTS) saw its stock rally 17% on Thursday after several days of decline. Shares of DRTS opened at $4.89. The stock recently changed hands at $6.05, up 17%, at approximately $12:00 p.m. ET. DRTS stock had declined significantly since last week, with the shares losing 27% of their value over the past five sessions as of midday Thursday. Based in Israel, Alpha Tau has developed an alpha radiation therapy device called Alpha DaRT for the treatment of solid tumors. The device is currently in clinical testing. The company went public in late February through a merger with SPAC Healthcare Capital. Last July, Healthcare Capital and Alpha Tau announced plans to merge through a deal that valued the combined company at a pro forma equity value of $1 B and was expected to provide gross proceeds of $367M.

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Medical device maker Alpha Tau stock rallies 17% following days of decline