A 92% Gain Is Possible In This Cheap Stock
Innovate Biopharmaceuticals, Inc. (Nasdaq: INNT), a clinical stage biotechnology company focused on developing novel therapeutics for autoimmune and inflammatory diseases, recently announced its year end 2018 financial results and key highlights. The stock is up on the news.
The company’s lead product candidate is INN-202, has completed Phase IIb clinical trial for the treatment of celiac disease.
It also develops INN-108, which has completed Phase I clinical trial to treat mild-to-moderate ulcerative colitis; INN-217 for the treatment of non-alcoholic steatohepatitis and microbiome; and INN-289 to treat crohn’s disease, as well as product for the treatment of alcoholic steatohepatitis (ASH).
In addition, the company holds rights for INN-329, a formulation of secretin that is used to enhance visualization in magnetic resonance cholangiopancreatography procedures that is in Phase III clinical trial.
America’s Economy Could Be In For A Rude Awakening
If you’re worried about why stocks are surging while millions of Americans are out of work and commercial bankruptcies are skyrocketing, I strongly urge you to listen to this message.
As summarized by GlobeNewswire:
“Innovate entered into an agreement with ICON Clinical Research Limited to facilitate the Company’s completion of startup activities required to initiate its Phase 3 clinical trial for celiac disease. Manufacturing of the drug product for the Phase 3 trial has been completed.
- Start of the first Phase 3 celiac disease trial
- Continuation of pre-clinical studies for non-alcoholic steatohepatitis (NASH) and alcoholic steatohepatitis (ASH).
- Initiation of additional scientific and clinical collaborations.”
Sandeep Laumas, M.D., CEO of Innovate, said, “The fourth quarter of 2018 was focused on continued preparation for our first celiac disease phase 3 clinical trial, which we plan to initiate in the second quarter of 2019.
We are also encouraged by the pre-clinical data we have seen for NASH so far and Innovate intends to continue further pre-clinical work for the use of larazotide in the treatment of NASH.”
The company also recently disclosed its annual finance report, reporting a net loss of $24.2 million, up from the $11.6 million the year prior due to increased R&D expenses.
The company has no significant revenue source as it works towards U.S. Food and Drug Administration approval of its drug candidates, which could create obstacles for the company.
Fortunately, the company has already secured millions in fundraising and could be on the path to success. Late 2019 could be a profitable time for this company and investors should watch the stock closely.
INNT should be considered a buy if momentum increases.
Look for an entry at $1.95 with a price target of at least $3.76 based on the pattern in the chart.