In yesterday’s trading session, the 4d Pharma share price fell by 4.85 per cent, marking a sixth consecutive session that the company has lost in the markets. The 6-days route in the markets saw the price drop from 33.6p to the current price of 24.5p, a 27 per cent drop.
Yesterday’s trading session also saw 4d Pharma’s share price hit a price low of 24p, a price level that has not been hit since April 1, 2020. The current strong bearish trend, if it continues, is poised to set an all-time price low.
Currently, 4d Pharma is leading the development of Live Biotherapeutic Products (LBPs), a novel class of drugs derived from the microbiome. A recent press release shows the company had a presentation discussing progress on the study of MRx0518 in combination with BAVENCIO in patients with unresectable locally advanced or metastatic urothelial carcinoma. The presentation was conducted on June 4 at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting.
Dr Alex Stevenson, Chief Scientific Officer at 4D Pharma, highlighted the company’s commitment to building a strong body of evidence supporting MRx0518 as novel immunotherapy with broad potential to address significant unmet needs across multiple oncology indications.
Despite recent research on cancer drugs and other pioneering research work, market sentiments have remained relatively neutral. In some cases, where research has been notable, enthusiasm has quickly dried up, resulting in continued price drops.
In yesterday’s trading session, 4d Pharma’s share price hit a price low of 24p, a level that has not been hit since April 1, 2020. The prices are also near the company’s all-time share price lows after six consecutive bearish trading sessions.
The daily chart below shows that the current bearish trend will likely continue in the next few sessions. Therefore, I expect 4d Pharma to set a new price low. There is also a high likelihood that the current bearish trend is long-term.
However, should the prices trade above 30p again, then my bearish analysis will be invalidated. It will also signal a possible recovery of the share prices.
This post was last modified on %s = human-readable time difference 08:55