Polyrizon's Retail Following Booms As Biotech Stock Triples On Manufacturing Deal For Allergy Blocker Trial
By Stocktwits Inc | First Published Dec 19, 2024, 1:21 AM ISTThis collaboration will supply clinical trial material for Polyrizon’s experimental allergy blocker, PL-14, which is set to enter clinical trials in 2025.
Shares of Polyrizon skyrocketed more than 200% to an all-time high on Wednesday, making it the top biotech stock with the most new followers on Stocktwits in the past 24 hours.
Trading volume surged 890 times the daily average, reflecting heightened investor interest in the Israel-based biotech company.
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The massive rally follows Polyrizon’s announcement of a manufacturing agreement with Eurofins CDMO Amatsiaquitaine, a prominent European Good Manufacturing Practice (GMP) manufacturer.
This collaboration will supply clinical trial material for Polyrizon’s experimental allergy blocker, PL-14, which is set to enter clinical trials in 2025.
The PL-14 allergy blocker is part of Polyrizon’s effort to develop innovative nasal sprays that create a hydrogel-based shield in the nasal cavity, protecting against allergens and viruses.
The manufacturing deal secures a compliant supply chain for the clinical trial, marking a key milestone for the development-stage biotech firm.
Retail chatter on Stocktwits has been overwhelmingly bullish.
Polyrizon’s stock had a rocky start on the Nasdaq, debuting at the end of October with a disappointing IPO.
The company priced 958,903 units at $4.38 per unit, with each unit including one ordinary share and three warrants exercisable at the same price. Shares dropped more than 64% post IPO.
Despite the poor debut, Polyrizon has gained 90% so far this year following Wednesday’s surge, although it remains below its IPO price.
Over the past month, the stock has seen a meteoric rise in popularity, adding 1,576% more followers on Stocktwits amid a 10,300% spike in message volume.
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