Brooklyn ImmunoTherapeutics (NYSEMKT: BTX) was a little-known biotech trading at $4 per share last month. As of May 4, however, its share price has rocketed to $55. Brooklyn ImmunoTherapeutics is now a mid cap with a market capitalization of nearly $2.7 billion -- and growing. It has become a top rags-to-riches biotech stock in less than 30 days.
Keep in mind that this is still a development-stage firm with no drug or biologic yet on the market. What's behind such a monstrous rally?
Image source: Getty Images
For further details see:
Up 1,300% in the Past Month, Is This Mysterious Biotech a Buy?