This past Friday, the Inspyr Therapeutics stock (OTCMKTS:NSPX) made a major move and it is likely that it is going to be on the radars of investors today. On Friday, the Inspyr stock rallied strongly on the back of rising volumes and gained as much as 35%. Considering the fact that Inspyr has a track record of generating big gains, it could be a good time to have a look at the stock.
Key Announcement
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One of the major positive triggers for the Inspyr stock came about last week when the company announced that it successfully bought back its proprietary technology RT AR0001. The technology helps in delivering adenosine receptor antagonists for treating cancer and marks a significant move for Inspyr.
The company had actually licensed the technology to Ridgeway but decided to reacquire it. In exchange for RT AR0001, Ridgeway got 54.1% of the outstanding as well as issued common stock in Inspyr.
However, that is not all. Additionally, Inspyr is also working on receptor modulators for small molecule adenosine and in fact trying to build a pipeline for the same. In order to accomplish that, the company has acquired Lewis and Clark Pharmaceuticals Inc.
While these are highly important developments, it is also necessary for investors to keep in mind that the company has many other products, which are still under development. The company has managed to create an impressive portfolio of intellectual properties in recent years.
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Stock Volatility
Although the rally in the Inspyr stock has been a result of recent positive news about the company, it should also be noted that the stock suffered from volatility earlier this month.
After the news broke about the acquisition of RT AR0001 from Inspyr, the stock went on a highly impressive rally. On Monday, October 12 the stock rallied by 103% and followed that up with gains of 90% on Tuesday.
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However, the stock soon crashed despite the fact that there was no specific news about the company. In this situation, it is necessary to remember that the acquisition of the immuno-oncology delivery technology remains a major coup for the company and the rally on Friday perhaps showed that investors are still keen on the stock.
The transaction had additional benefits as well. Inspyr is also going to get ownership of all the licenses related to RT AR0001 as well as any improvements that had been made to the technology by Ridgeway.
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