Making Waves: PaxMedica In The Spotlight; Bullish View On Outbrain
- July 24th, 2023
- 268 views
Shares of PaxMedica, Inc. (Nasdaq: PXMD) surged over 10% in pre-market trading as the company revealed positive top-line data from its PAX-HAT-301 Retrospective Analysis of Suramin Treatment for Stage 1 Trypanosoma Brucei Rhodesiense Human African Trypanosomiasis (S1 TBR HAT).
The study's primary endpoint was successfully achieved, showing statistically significant and clinically meaningful results. This breakthrough opens the path for an NDA filing for the use of PAX-101 (intravenous suramin) to treat African Sleeping Sickness.
$PXMD currently stands at $0.92 in pre-market, reflecting a gain of $0.12 (+15.15%) following the announcement.
In other news, Outbrain Inc. (Nasdaq: OB), a leading content discovery platform, received a positive review from Needham, which maintained its "Buy" rating on the stock and raised the price target from $5.5 to $6.5.
With Friday's closing price of $5.17, the updated price target suggests a potential upside of $1.33 or approximately 25.7%, according to the brokerage firm's analysis.
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