PaxMedica stock soars 110% on FDA update for lead drug PAX-101Shares of PaxMedica (NASDAQ:PXMD) shot up 110% in early trading after the biotech company said that it now expects to file its New Drug Application for PAX-101 in the second half of 2024.
The biotech company said it received constructive feedback at a recent type-B meeting with the FDA that will help it complete the application. It added that most of the work required for the NDA will focus on completing the production of commercial lots of PAX-101 under CMC regulatory guidelines, which it expects to complete in the first half of 2024.
PaxMedic is seeking to get the drug approved as a treatment for African Sleeping Sickness. The company is also developing it as a potential treatment for autism spectrum disorder, according to its website.
The sudden surged was later on accompanied by a consolidated move. With the Trend heading towards the bears zone
PMD
Psychemedics PMD micro-cap Due For Bullish Reversal Cycle
5% Dividend Yield, with 100% upside Share Potential
The world’s largest provider of hair testing for drugs of abuse
announced financial results for the first quarter ended March 31, 2023
And the declaration of a cash dividend of $0.07 per share to be paid on June 8, 2023, to shareholders of record as of May 25, 2023
The Company’s revenue for the quarter ended March 31, 2023, was $5.9 million versus $6.5 million for the quarter ended March 31, 2022, a decrease of 10%. Net loss for the quarter ended March 31, 2023, was $(384,000) or $(0.07) per diluted share, versus net income of $39,000 or $0.01 per diluted share, for the comparable period last year.
Psychemedics Corporation is a United States corporation which provides patented, FDA-cleared, CAP certified clinical laboratory services for the detection of drugs of abuse. The company's corporate headquarters are located in Acton, Massachusetts and its laboratory operations are located in Culver City, California. Wikipedia
This Stock IS GONNA FLY!!!With Current mkt cap of 28MM USD this small cap has been contantly generating cash over the past 6 years. With a patented techfor drug detection its a great target for M&A or LBO.
With super good dividend yield, this stock is definetelly gonna fly very soon. Minimum 80% target return.
Out of the 28MM the company has 5MM in cash and generates 5-10MM on CFO which is insanely cheap valuation!!!
Get High Returns: Long PsycheMedicscompany with a few decades of history, niche product/ market, remains fairly innovative
debt vs. cash +cash flow is net positive. low share count float
Buyout Target
