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      Acasti Pharma Inc. (ACST) stock Riots in the After Hours - Stocks Telegraph

      By Gule Rukhsar

      Published on

      December 22, 2021

      5:23 AM UTC

      Acasti Pharma Inc. (ACST) stock Riots in the After Hours - Stocks Telegraph

      Acasti Pharma Inc. (ACST) stock gained a huge 29.73% at a hefty volume of 6.86 million shares in the after-hours on Tuesday. The stock had been in the red in the previous regular session with a loss of 0.89%. After closing the session at $1.11, the stock climbed up in the after hours.

      With no recent news from the company, the stock seems to be gaining positive ratings from analysts and stock sentiment.

      Currently, ACST has a market capitalization of $49.6 million for its 44.29 million outstanding shares.

      ACST stock Movement and Reason

      News is circulating in the market that the company is on the verge of reaching the breakeven point. Moreover, ACST is expected to generate a final loss in 2023, following which it will become profitable with positive income. Hence, for this to happen the expected per year growth rate of the company is 123%. Given the optimistic growth expectations, analysts have assigned the stock a bullish rating. In addition, stock sentiment is also market positive.

      Due to this, investors seemed to be flocking towards the stock on Tuesday. During both regular session and the after-hours, ACST saw huge volumes. Moreover, the stock traded at a huge volume of 7.31 million against its 65-day average of 475.16K shares. While it was in the red in the regular session, the tides turned in the after-hours. Hence, ACST gained big on the positive rating and expectations of investors.

      PK Study of GTX-104

      ACST has been studying GTX-104 in its pivotal pharmacokinetic (PK) bridging study for patients with Subarachnoid Hemorrhage (SAH). SAH is bleeding over the surface of the brain usually caused by a ruptured aneurysm. Furthermore, GTX-104 is ACTS’s novel formulation of nimodipine for SAH patients in IV infusion form.

      On December 02, the company announced interim data from its study of GTX-104. According to this, GTX-104 achieved both its primary endpoint. The primary endpoints of the study were Day 1: Maximum Concentration (Cmax), and Day 3: Area Under the Concentration-Time Curve (AUC 0-24hrs). Hence, the study will continue on its path towards completion.

      Moreover, these results were based on an interim analysis of the study’s first 20 healthy subjects. Given that, the company is convinced that GTX-104 would reach comparable bioavailability with oral nimodipine in the full 50 subjects cohort. In addition, ACST expects the final results from the study in the first half of 2022.

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