Lakewood-Amedex Shares Fall 20% Despite Positive Nu-3 Development Update

(RTTNews) - Lakewood-Amedex Biotherapeutics, Inc. (LABT) shares declined 20.00 percent to $1.2000, down $0.3000 on Monday, even after the clinical-stage biotechnology company reported positive manufacturing and stability data for its lead antimicrobial candidate, Nu-3.

The stock is currently trading at $1.2000, compared with a previous close of $1.5000 on the Nasdaq. It opened at $1.3600 and traded between $1.0700 and $1.4700 during the session, with volume reaching 34.73 million shares, well above the average daily volume of 3.31 million shares.

The company said Nu-3, a topical treatment being developed for mildly infected diabetic foot ulcers, demonstrated favorable manufacturing progress and long-term stability. Drug substance remained stable for at least five years, while the gel formulation was stable for at least two years and showed undetectable bioburden levels without requiring additional preservatives.

Lakewood-Amedex shares have traded between $1.0700 and $9.8200 over the past 52 weeks.