Why BioVie Stock Is Soaring Today
Shares of BioVie (NASDAQ: BIVI) were soaring 23.6% higher as of 11:19 a.m. ET on Thursday. The big jump appears to be the result of a delayed positive reaction by investors after the drugmaker reported results earlier this week from a phase 2 study evaluating experimental therapy NE3107.
On Tuesday, BioVie's share price tumbled after the company's Monday evening announcement of results from its phase 2 study of NE3107 in treating Alzheimer's disease and Parkinson's disease. Then, on Wednesday, BioVie announced additional findings from the Alzheimer's portion of the trial. The company also issued a letter to shareholders on Wednesday providing some context for its clinical results.
The more BioVie explained its results for NE3107, the more investors liked what they were hearing. That's not unusual. Of course, sometimes biotech stocks fall as investors learn more about data that seems positive at first glance.
Source Fool.com
