2023-11-28 10:16:21 ET
Biodexa Pharmaceuticals Plc (NASDAQ: BDRX) is trending after favourable stock market news. The stock gained 91% in a single day and is up more than 107% in the last five days. The rally follows news that Biodexa acquired an exclusive worldwide licence to commercialise Tolimidone. Biodexa is focused on the development and commercialisation of the drug for Type I diabetes.
Pfizer discovered tolimidone to address gastric ulcers. However, Pfizer discontinued its development on grounds of efficacy. After successful Phase I clinical trials, Tolimidone shows promising results for Type I diabetes treatment. The drug is now in Phase II clinical trials.
An exclusive worldwide licence to develop and commercialise Tolimodone could change the fortunes of Biodexa. There is a high potential for success. Biodexa sees Tolimodone as a pathway for diversification of its pipeline. The opportunity for shareholder value is high. The worldwide licence will grow the revenues and make the company profitable.
Investors have taken notice of the company’s great potential. The recent price rally appreciates the potential for the penny stock’s future growth. Investors are positioned to reap from the potentially rapid growth of the company’s fortunes.
Biodexa could rise to settle at $6.50 as momentum peaks
Biodexa is trading at a pivotal point with a valuation of $5.21. Momentum is gaining pace on the company’s shares. The stock will likely rise to a new swing price of $6.50. Biodexa has traded at the $6.50 valuation in the past. The valuation was tested in the period after the last 1/80 stock split that happened in July.
Investors anticipate that the company could consider another split in the foreseeable future. NASDAQ classification indicates that Biodexa is still in the equities market to raise capital. Biodexa offers clear opportunities for both long-term investors and short-term traders.
Summary
You could consider investing in the shares of Biodexa Pharmaceuticals now considering the potential. The company is likely to record rapid growth in both revenues and profits. The share price is set for further appreciation as the company targets capital in the equities market. Both short-term and long-term investors will benefit from the momentum of the stock.
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