Biotech Soars Despite Broader Selloff

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, August 7, 2024

A Virginia-based biotech company is turning heads on Wednesday after the company announced that its subsidiary, Pearsanta, Inc. has submitted a proposal for the Clinical Trial Translational Endpoints Research Award to the Congressional Directed Medical Research Programs (CDMRP) of the department of Defense.

While that announcement was pretty long-winded, the release went on to say that the proposal aims to validate a novel assay based on Pearsant’s Proprietary Mitomic® Technology for the early detection of ovarian cancer.

Shares of Aditxt Inc. (Nasdaq:ADTX) rallied strongly on the news, with shares of the micro cap reaching up to $2.14/share (+114.64%) at the early session high.

Aditxt Inc is a life sciences company which focuses on prolong life and enhance life quality of transplanted patients. The firm develop products designed to induce tolerance to transplanted organs. The firm's immunosuppressive (anti-rejection) drugs has made possible life-saving organ transplantation procedures as these drugs prevent or delay organ rejection. It is also developing a technology called Apoptotic DNA Immunotherapy (ADi) which utilizes tolerogenic approach that utilizes the body's natural process of cell death, to deliver a modified antigen that signals the immune system to become tolerant to transplanted tissues.

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