Why Impel NeuroPharma Stock Is Soaring Today

Shares of Impel NeuroPharma (NASDAQ: IMPL) are shooting higher in response to Food and Drug Administration approval of the company's first drug. Investors excited about the company's graduation to commercial-stage status pushed the stock 22.3% higher as of 11:18 a.m. EDT on Friday.

On Friday morning, the FDA approved Trudhesa, a new nasal spray made with an old migraine drug called dihydroergotamine mesylate. This is an especially big deal for Impel NeuroPharma because previously the company didn't have any means of generating revenue.

Image source: Getty Images.

Continue reading

Source Fool.com