Shares of XTL Biopharmaceuticals Ltd. (XTLB) are soaring in the pre-market. The XTLB stock price saw a huge jump of 129.76 % to reach $6.64 a share as of this writing. It seems that there is no particular activity to explain the reason behind this rally.
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There was no news from XTLB stock to explain the rise, no earnings report from the company, no analyst upgrades or targeted XTLB stock price and no social media hype that might explain the reason behind this bullish sentiment. This situation is spreading curiosity among investors. Here is what you need to know about the company.
- XTL Biopharmaceuticals Ltd is a pharmaceutical company focused on the development of pharmaceutical products to treat autoimmune diseases.
- XTL Biopharmaceuticals Ltd. was founded in 1993 and its headquarters is in Ramat Gan, Israel.
- The company changes its name from Xenograft Technologies Ltd. to XTL Biopharmaceuticals Ltd in 1995.
- The company’s lead drug candidate is hCDR1 which is a phase II-ready asset for the cure of Systemic Lupus Erythematosus and Sjogren’s syndrome
- Another product pipeline of XTLB is Recombinant Human Erythropoietin (rHuEPO) that is used to treat patients suffering from multiple myeloma blood cancer.
- XTLB has a license agreement with Yeda Research and Development Company Limited for the research, development, and commercialization of its novel compound hCDR1.
- The company’s CEO is Shlomo Spokone Shalev who is also the Chairman at GFC Green Fields Capital Ltd.
The penny stock is enjoying bullish sentiment in Friday’s pre-market but no specific reason behind this rally suggests that the XTLB stock will move back to its normal position soon.XTL Biopharmaceuticals Ltd. Is continuously looking for late-stage products to acquire and pursuing partnerships for the development and marketing of its products around the globe.