Shares of Acasti Pharma spiked to a 52 week high of $1.09 during the early Thursday trading sessions. 216 Million shares of Acasti Pharma was traded today compared to the average volume of 35 Million. Meanwhile, Acasti Pharma initiates a review process to evaluate strategic alternatives to boost shareholder value. In a statement, the Laval, Quebec-based biopharmaceutical innovator said it has engaged Oppenheimer & Company Inc as its financial advisor to assist in the process.
Analysts indicate that ACST stocks are highly volatile at the moment and show a highly bullish pattern. If the trend continues, charts indicate that there is a chance of a massive break out with 350% upside potential.
The company made it clear that it “does not intend to make any further disclosures” regarding the strategic review process unless and until a specific course of action is approved by the company’s board.
Meanwhile, Acasti Pharma emphasized that along with its clinical advisors, it plans to “complete the full data analyses” as contemplated in the Statistical Analysis Plan for TRILOGY 2, including the secondary and exploratory endpoints, and “the pooling of the data from TRILOGY 1 and 2.”
CaPre is a krill-oil derived prescription drug, aimed at treating hypertriglyceridemia, or high levels of triglycerides in the blood, which is known to contribute to heart disease.
More About Acasti Pharma Inc
Acasti Pharma Inc is a biopharmaceutical innovator advancing a cardiovascular drug, CaPre (omega-3 phospholipid), for the treatment of hypertriglyceridemia, a chronic condition affecting an estimated one third of the U.S. population. The company is focused on addressing a critical market need for an effective, safe and well-absorbing omega-3 therapeutic that can make a positive impact on the blood lipids associated with cardiovascular disease risk. The Company is developing CaPre in a Phase 3 clinical program in patients with severe hypertriglyceridemia.