IPOS - TC BioPharm stock rallies 28% Monday but still down 64% from IPO price

UK-based TC BioPharm (TCBP) stock soared on Monday, but shares were still trading at less than half their initial public offering price. Shares of the Scottish biotech company closed at $1.53, up 28% from the prior session’s close, but still down 64% from its IPO price of $4.25 per American Depositary Share. The stock has traded widely since its market debut on Feb. 11. The stock moved higher on March 23 after TC BioPharm said it received the green light from the U.K. health agency MHRA to begin clinical testing of its cell therapy OmnImmune for acute myeloid leukemia, or AML. The shares also got a boost on March 17 when the company announced OmnImmune had received orphan drug status from the US Food and Drug Administration for the treatment of AML. TC BioPharm held its initial public offering on Feb. 11, raising $17.5M. The company’s ADSs opened at $3 after

For further details see:

TC BioPharm stock rallies 28% Monday, but still down 64% from IPO price