This post first appeared on Micro Cap Daily
GT Biopharma, Inc. (OTCQB: GTBP) stock price has been on the decline ever since October 2018. After initially breaking its support level at $2, and dropping down to $0.5 within a month, the price had seen another surge that took it back to $1.8. However, the $2 level started acting as a major resistance, and it prevented the price from reaching it, let alone breaching it.
The company’s stock price continued its decline in months to come, with barely any attempts at growth, apart from a small surge in January 2019. However, the situation has finally started to change, and the company’s stock price is currently experiencing a major 80% surge, which allowed it to breach the $0.5. This level has been acting as a resistance ever since the price dropped below it in mid-February. Now, with the price skyrocketing again, it is likely to become support yet again and provide GTBP with a solid bottom that will lead to further growth.
Who is GT Biopharma?
GT Biopharma, Inc. is a company dedicated to the development of innovative new drugs that might be used for treating different forms of cancer, as well as various central nervous system diseases.
The company uses its proprietary platform technology for generating novel immuno-oncology biopharmaceutical drugs that treat acute lymphocytic leukemia, non-Hodgkin’s lymphoma, acute myeloid leukemia, and other solid tumors. The firm was founded by its current CEO, Chairman, and President — Anthony J Cataldo, back in 2014.
The company’s focus has been on the development and commercialization of novel immuno-oncology products and a portfolio of central nervous system (CNS) product candidates ever since.
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GT Biopharma price drop and progress
The company’s stock price has seen a lot of volatility in the past 12 months, starting with a massive surge from $1.5 to nearly $3 in June 2018. The surge was followed by a correction that brought the price back down to $1.5 in early July, only for it to surge back to the same levels by late July. The second surge was just as short as the first one, although the next price drop was stopped by a support level at $2. For the following three months, the price was mostly fluctuating between $2 and $2.4, until mid-October.
However, the company continued business as usual, and it even received the FDA clearance to commence the first-in-human Phase 1 study of its cancer-killing products. The results were positive, and GT Biopharma presented its preclinical data of Tri-specific NK Cell ENgager (TriKE) during the 60th American Society of Hematology Annual Meeting & Exposition.
The company continued its research and tests, but it also worked on its internal management. By late March 2019, it announced the completion of management restructuring, hoping with hopes of becoming even more productive in the future.
However, the firm started seeing a massive amount of progress recently, in April, when it received institutional review board approval to proceed with in-human FDA Phase 1 clinical trial. One of the most important announcements in the firm’s history came only yesterday, April 25th, when the firm confirmed the elimination of HIV-infected cells. This was possible due to its TriKEs, and the preclinical testing was done at the University of Minnesota.
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The announcement caused the company’s stock price to skyrocket by 80%, as mentioned earlier. With such a massive potential for the future of modern medicine, GT Biopharma is likely one of the best investments that investors can make these days. Its solutions are highly advanced and extremely effective, and they might forever change the way people treat various forms of cancer and other diseases. We will be updating on GT Biopharma when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GT Biopharma.
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Disclosure: we hold no position in GT Biopharma either long or short and we have not been compensated for this article.
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This post first appeared on Micro Cap Daily