AllPennyStocks.com California Biotech Stock Bid Up Prior To Opening Bell On Major ...

California Biotech Stock Bid Up Prior To Opening Bell On Major Announcement

California Biotech Stock Bid Up Prior To Opening Bell On Major Announcement By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, November 27, 2024

A California-based biotech company is already stealing the show during Wednesday’s premarket after the company announced a CEO transition and an estimated 83% reduction in workforce in a strategic overhaul.

Traders were quick to buy up shares of Kronos Bio Inc. (Nasdaq:KRON) following the announcement, with the current bid sitting at $0.92/share (+6.36% implied open for sellers) at the time of writing. This move could lead to the breakout of a multi-month downtrending consolidation this stock has been stuck in since the summer. 

Kronos Bio Inc is a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes through a precision medicine strategy by targeting dysregulated transcription.


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