though its traded volume managed to keep the high value of over 5 million shares.The most probable reason for the positive price change turns out to be the news on the company’s cancer drug Folotyn, which extends lung cancer survival. However, ALTH is not completely satisfied with its sale results.[BANNER]
Following the price movement, we can see that ALTH has had lots of negative price changes during the last month and it was just yesterday as the stock progressed a bit. However, its volume has kept quite high values.
Historical data shows that this April ALTH traded at $9.00 per share, but since then the price moved down. Currently, the company trades bellow its yearly average of $4.90 and the investors should carefully keep an eye on the future movement of the stock.
According to the records, Allos was promoted in June when its traded volume climbed up to over 1 million shares. It appeared to be a big jump for the stock as compared to its three-month average value of 455 thousand shares traded.
Allos Therapeutics is a biopharmaceutical company engaged in the development and commercialization of anti-cancer therapeutics. The company reported increased revenues and gross profit during the second quarter of this year, though it suffered an operating loss of over $20 million. ALTH has generated lower net income as compared to the previous quarter, though it registered more assets than liabilities on its balance sheet.
Today, the high price move from yesterday was broken and the company claims that it is still worried about its future cancer drug sales.
