ABVC - Micro Cap Soars On Strategic Investment Announcement

2023-07-26 09:33:07 ET

While we normally talk about stocks that are trading sub-$5, seeing that this particular stock closed at $3.80 yesterday, we couldn’t help but bring it up this morning, regardless of how high it’s trading right now!

A California-based %Biotech firm is soaring so far during Wednesday’s premarket, and the reason is a little surprising. Shares of %ABVCBioPharma (Nasdaq: ) are currently bid up at $5.46/share (+43.68% implied open for sellers) following an announcement that the company has signed a term sheet to advance a partnership with Zhonghui United Technology Group Co., Ltd. and its affiliated enterprises. According to the release, “the partnership contemplates a planned acquisition of real estate assets via an equity transfer, estimated at $7.4 million, all to advance the development of a large-scale health and wellness base in Chengdu, China.”

It should be an exciting session for this micro cap!

ABVC BioPharma licenses promising medical research conducted in the Asia-Pacific region and enlists top-ranked principal investigators in the United States to conduct Phase II clinical trials. We specialize in botanically based solutions that deliver high efficacy with low toxicity for improved health outcomes that represent enormous commercial potential.