ADTX Stock: Key Takeaways
- Aditxt announces intent to acquire an undisclosed biopharmaceutical company that sells COVID-19 antiviral oral therapy outside the U.S.
- The proposed acquisition would include a $6.5 million loan to the target company by the end of the month.
- ADTX stock surges 99% after STT Breaking News chat alert.
Aditxt Inc. (NASDAQ: ADTX) doubled today after revealing plans to acquire a biopharmaceutical company.
ADTX stock jumped more than 99% by noon Eastern and was still up more than 75% at writing.
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Aditxt said it signed a letter of intent to acquire a biopharmaceutical company “commercializing COVID-19 antiviral oral therapy.”
Aditxt didn’t reveal the name of that target company but said it’s “currently selling its products under emergency and compassionate use, standard of care, and full approval in multiple countries internationally outside of the U.S. and Canada.”
The proposed terms of the acquisition include “the completion of a proposed $6.5M secured loan from Aditxt to the Target Company by August 31, 2021”
Aditxt will also issue “such number of shares of common stock that yields 50% of the number of Aditxt’s outstanding shares post-closing of the transaction.”
Amro Albanna, Aditxt’s co-founder and CEO, said, “We have been eager to grow the global footprint of Aditxt’s immune therapeutic and monitoring platforms. We are also excited about this potential transaction, which, if completed, would be a complementary strategic fit with our company.”
STT Breaking News Alert Catches Rally
The StocksToTrade Breaking News team sent out an alert on this stock ahead of the surge.
The message was sent out at 9:19 a.m. Eastern reading, “$ADTX Aditxt Therapeutics Inc. (ADTX) Signs LOI for Exclusive Rights to Negotiate the Acquisition of a Biopharmaceutical Company Commercializing and Distributing Antiviral Oral Therapy for COVID-19.”
At the time, ADTX stock was trading at $2.60 per share.
But it was off to the races after that alert.
ADTX hit a daily high of $3.95 per share less than three hours later, up 52% from the alert level.
ADTX Stock Top Five
- Aditxt was founded in 2017 and is headquartered in Loma Linda, CA.
- The company went public in an IPO on July 2, 2020.
- Aditxt is developing technologies specifically focused on improving the health of the immune system through immune monitoring and reprogramming.
- ADTX stock closed at $1.98 per share on Tuesday.
- The stock opened at $2.78 per share today.