Why AbCellera Biologics Stock Raced Nearly 6% Higher Today
Investors were surely discovering drug discovery company AbCellera Biologics (NASDAQ: ABCL) as the trading week kicked off on Monday. On encouraging news in an important North American jurisdiction, those folks bid the biotech's stock up by almost 6% on the day. That was a far higher jump than the 0.4% increase of the benchmark S&P 500 index.Friday afternoon, AbCellera announced that it had received a no objection letter (NOL) from Health Canada, that country's healthcare regulatory agency, regarding one of its early-stage investigational drugs. The NOL covers the company's clinical trial application (CTA) for ABCL575, a treatment that targets moderate to severe atopic dermatitis (a chronic skin condition also known as atopic eczema). Image source: Getty Images.Continue reading
Investors were surely discovering drug discovery company AbCellera Biologics (NASDAQ: ABCL) as the trading week kicked off on Monday. On encouraging news in an important North American jurisdiction, those folks bid the biotech's stock up by almost 6% on the day. That was a far higher jump than the 0.4% increase of the benchmark S&P 500 index.
Friday afternoon, AbCellera announced that it had received a no objection letter (NOL) from Health Canada, that country's healthcare regulatory agency, regarding one of its early-stage investigational drugs. The NOL covers the company's clinical trial application (CTA) for ABCL575, a treatment that targets moderate to severe atopic dermatitis (a chronic skin condition also known as atopic eczema).
Image source: Getty Images.
