Innovation Pharmaceuticals (IPIX) Extends The Rally: How To Trade Now?

Last week the clinical-stage biopharmaceutical company Innovation Pharmaceuticals (OTCMKTS:IPIX) saw its stock come into considerable focus among investors.

The stock ended up clocking gains of as much as 10% last week and in this situation, it might be worthwhile for investors to take a look at the positive trigger. Back on May 27, the company announced that the enrolment drive for its Phase 2 clinical trial of the product Brilacidin had gone up to 90% of its target of 120.

The company went on to add that it expects that the enrolment is going to be completed within two weeks from May 27. It is a significant development for Innovation considering the fact that Brilacidin is meant to treat COVID 19 patients. It is meant for those who are suffering from moderate to severe symptoms of COVID 19 infection. It is going to be interesting to see if the stock can continue to record gains this week.