Aveo recently announced that the Tivozanib drug, in its second analysis, showed an improved survival hazard ratio. This penny stock news prompted the company’s stock to fly over 60% from Monday’s opening bell to Tuesday’s premarket high of $1.10. But just as quickly as it jumped, AVEO pulled back aggressively during the last 30 minutes of trading on September 10. Good Phase 3 news? Seemingly so but will profit taking crush the hopes of this breaking beyond $1 for good?
Chart indicates possible technical levels and it seems that around today's high is one of those levels.
"Biopharmaceutical company, Aveo Pharmaceuticals Inc. (NASDAQ:AVEO) is pursuing treatment plans for different tumors. The company has 4 treatment plans in clinical trials and 2 additional ones undergoing pre-trials. Aveo’s lead product, Tivozanib, has completed the clinical trials and has been filed and marketed."
Source: A List Of Penny Stocks To Watch As They Approach September Highs
Chart indicates possible technical levels and it seems that around today's high is one of those levels.
"Biopharmaceutical company, Aveo Pharmaceuticals Inc. (NASDAQ:AVEO) is pursuing treatment plans for different tumors. The company has 4 treatment plans in clinical trials and 2 additional ones undergoing pre-trials. Aveo’s lead product, Tivozanib, has completed the clinical trials and has been filed and marketed."
Source: A List Of Penny Stocks To Watch As They Approach September Highs