Achaogen Inc (NASDAQ: AKAO)
Achaogen is having an incredibly strong day in the market today. When the opening rang, the stock quickly found its way to the green. Since then, we’ve seen a continuation of upward movement, bringing the stock to incredibly impressive gains. Below, we’ll talk about what we’re seeing from the stock, why, and what investors should be watching for ahead.
What We’re Seeing From AKAO
As mentioned above, Achaogen is having an incredibly strong trading session in the market today. As soon as the opening bell sounded, the stock found itself well into the gains. From there, we’ve seen a continuation of strong upward movement, bringing the stock to incredible highs. At the moment (11:34), AKAO is trading at $9.11 per share after a gain of $3.86 per share or 73.52% thus far today.
Why The Stock Is Climbing
As soon as I noticed that AKAO was making a run for the top, I started to dig to see if I could find the reason for the gains. It didn’t take long to uncover the story. It seems as though the investor excitement is coming from data that was released early this morning with regard to a Phase 3 clinical trial the company has been working on.
The data mentioned above surrounded the company’s Phase 3 EPIC Trial focused on a treatment for cUTI. In the data, the company proved a compelling improvement resulting from the treatment. In fact, Achaogen set 4 primary endpoints for the trial between endpoints for the FDA and the EMA. In the data, we quickly learned that all 4 of these primary endpoints were met.
This is incredibly positive news for AKAO investors. After all, because of the positive data, we can expect that the company will likely file for regulatory approval in both Europe and the United States in due time. If all goes well, this could mean that their product goes on the shelves and revenue climbs in a dramatic way.
What Investors Should Be Watching Ahead
Moving forward, investors should keep a close eye on AKAO as it’s likely to present incredible opportunities ahead. In order to take advantage of these opportunities, you’ll want to watch news surrounding the company closely. In particular, I’m interested to see new drug applications with regulators and the communication between the company and regulatory bodies leading up to their decision.
What Do You Think?
Where do you think AKAO is headed moving forward? Join the discussion in the comments below!