On Monday, the Adhera Therapeutics Inc (OTCMKTS:ATRX) stock emerged as one of the biggest gainers after it emerged that it signed a letter of intent with regards to the acquisition of Mellor Pharmaceuticals’ Parkinson’s disease candidate MLR 1019.
The announcement came as a massive boost for the Adhera stock as it ended up clocking gains of as much as 272% after investors piled on to it in a big way. Considering the sort of gains made by the stock, it is highly likely that Adhera is going to be in focus today.
In the previous clinical studies that had been conducted by Mellor, the product had demonstrated both tolerability and safety. However, the importance of the acquisition lies somewhere else. It has also been discovered that MLR 1019 is the only Parkinson’s medicine that could actually address both the movement and non-movement symptoms of Parkinson’s disease. It remains to be seen if the stock can add to its gains throughout the week.