Yet Another Biotech Stock Has Found Success During Tuesday’s Session

It appears to be the day for biotechs as yet another company in the space has caught our attention during Tuesday’s session. Earlier in the day, an Illinois-based biotech company found tremendous success after the company announced that the Danish Medicines Agency has authorized the expansion of its phase ½ trial evaluating Allocetra in patients with moderate to severe knee osteoarthritis.

Shares of Enlivex Therapeutics Ltd. (Nasdaq:ENLV) rallied strongly on the news, with traders pushing the stock up to $1.14179/share (+9.07%) at the session high. This move could be an indication that support has been found near the late 2023 level that led to a massive rally for the months to follow. 

Enlivex Therapeutics Ltd is an Israel-based development-stage biopharmaceutical company. It is focused on developing and commercializing an allogeneic drug pipeline for rebalancing immune hyper-responses. The company’s Allocetra is an immunotherapy that is being developed to rebalance a life-threatening unbalanced immune system, using the immune system’s own natural regulation mechanisms.

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