Aditxt, Inc. (ADTX) stock fell by a further 19.78% aftermarket at $0.9386 from its last close at $1.1700 on November 30. The stock had already gone down by 0.85% in the previous trading session at a volume of 1.21 million shares. The day’s range put the stock fluctuating between a price of $1.22 and $1.11, while it saw a high of $6.73 and a low of $1.01 in the past 52 weeks. So far, the 65-day average volume for the stock is 4.15 million shares. Moreover, the stock has gained 13.59% in the past five days and lost 33.90% last month. While the year-to-date loss for the ADTX stock is 43.75%. Further, the market capital of the stock is $31.77 million along with 26.93 million shares outstanding.
The stock seems to continue its downfall after the company announced the proposed public offering of its common stock.
Aditxt, Inc. (ADTX)
Incorporated in 2017, Aditxt, Inc. (ADTX) is a biotechnology company. It develops technologies that focus on improving the health of the immune system through immune reprogramming and monitoring. The company has a worldwide license for Apoptotic DNA Immunotherapy (ADi) commercialization. ADi is a nucleic acid-based technology that imitates the way the body naturally induces tolerance to its own tissue. Formerly, the company was known as ADiTx Therapeutics, Inc.
Aditxt, Inc. (ADTX) is headquartered in Richmond, Virginia.
Public Offering of the Company
On November 30, Aditxt, Inc. (ADTX) announced the launch of its underwritten public offering of common stocks and warrants. As per the announcement, the sole book-running manager of the offering is Dawson James Securities Inc. The offering was made pursuant to an effective “shelf” registration statement on the previously filed Form S-3 with the SEC.
ADTX’s Recent Developments
On November 12, the company provided updates on its target acquisition AiPharma Global Holdings LLC. ADTX had previously entered a transaction agreement for reaching a definitive agreement to acquire AiPharma Global’s subsidiary. AiPharma Global is a biopharmaceutical company with worldwide rights to all formulations of favipiravir. Which is a broad-spectrum anti-viral drug for targeting Covid-19 and other infectious diseases.
As per the updates, the favipiravir-based oral drugs did not provide significant statistical data during its Phase 3 PRESCO trial. The trial was meant to evaluate favipiravir-based drugs as potential at-home therapy for moderate Covid-19 patients.
Currently, both companies are reviewing the data of the trials for determining the best course of action.
