ALNA - Nano cap stock Allena surges on heavy volume

The shares of Allena Pharmaceuticals (NASDAQ:ALNA), a development stage biotech with a focus on metabolic and kidney disorders have more than doubled in value in the pre-market Thursday on above average volume. More than 52 million Allena (ALNA) shares have changed hands so far, compared to the 65-day average of ~2.6 million. The company’s product candidate, ALLN-346 has undergone a Phase 1 program involving healthy volunteers. The orally delivered urate degrading enzyme candidate is targeted at patients with hyperuricemia and gout in advanced chronic kidney disease. The company has received the FDA’s Fast Track designation for the candidate. ALLN-346 is currently undergoing two mid-stage trials for patients with hyperuricemia (Study 201) and gout and CKD (Study 202). Topline data from the studies are expected in 2Q 2022. Underperforming the broader biotech space, Allena (ALNA) has lost over 90% of its value over the past 12 months as shown in this

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Nano cap stock Allena surges on heavy volume