Biotech Shares Up Sharply Following Merger Announcement

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, December 14, 2022

A Philadelphia-based biotech company is seeing a lot of action so far during Wednesday’s premarket after it was announced that the company and another biotech firm, GRI Bio, announced that they have entered into a merger agreement.

Shares of Vallon Pharmaceuticals Inc. (Nasdaq:VLON) are current bid up in a major way leading up to the opening bell, with the current best bid at $0.675/share (+165.64% implied open for sellers) at the time of writing. This should be an exciting session for this micro cap!

Vallon Pharmaceuticals Inc is a biopharmaceutical company, which focuses on the development and commercialization of proprietary biopharmaceutical products. The company develops prescription drugs for central nervous system disorders. Its product ADAIR, a proprietary, abuse-deterrent oral formulation of immediate-release dextroamphetamine for the treatment of attention-deficit/hyperactivity disorder, and narcolepsy.

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