Market Mover Alert! Acaogen Inc. – Nasdaq ticker: AKAO
Shares of AKAO are up over 70% on large volumes. Achaogen Inc. is a clinical stage biotech firm that develops anti-bacterials to treat drug-resistant infections. Achaogen Inc. trades under the Nasdaq ticker AKAO and is located in San Francisco, CA. On Friday it closed at $5.25 but Monday’s open saw AKAO reaching $8.70 on news that Achaogen’s lead drug, Plazomicin, met its Phase 3 objectives.
Plzomicin showed a lower rate of mortality or infection-related complications, when compared to colistin therapy. Those results moved Achaogen Inc. to announce that it will be submitting a New Drug Application to the FDA in 2017 and a marketing authorization application in 2018.
From Achaogen’s press release:
Achaogen Inc, sales have grown from $22.5 million in 2011 to $26.1 million in 2015. Three firms cover shares oa AKAO with either a “Buy” or “Neutral” rating assigned. The three analysts have assigned a target price of either $7, $10, or $15.
Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. The below data is provided without any guarantee of its accuracy.
|Last Price a/o 9:00 EST||$ 9.00|
|Market Cap||$138 million|
|Shares Outstanding||26.3 million|
|Share Float||26.3 million|
|Short Interest Ratio||2.73|