AbCellera Stock Gains 37% On Positive Phase 2 Results

(RTTNews) - AbCellera Biologics Inc. (ABCL) shares rose 37 percent to $9.47 on Monday after the company announced positive Phase 2 results for ABCL635, an investigational treatment for moderate-to-severe menopausal hot flashes.

The stock opened at $8.77 and traded between $8.40 and $9.76 during the session on the Nasdaq. It has traded in a 52-week range of $2.74 to $9.76. Trading volume reached 31.50 million shares, compared with an average daily volume of 7.18 million shares.

The Phase 2 study met its primary efficacy endpoints, with ABCL635 showing statistically significant reductions in both the frequency and severity of hot flashes compared with placebo at week four following a single dose. The treatment also improved sleep and patient global impression of change, while no serious adverse events were reported during the four-week treatment period.