Home Trending Stocks What Caused The Anchiano Therapeutics (ANCN) To Continue Rally After-Hours?

What Caused The Anchiano Therapeutics (ANCN) To Continue Rally After-Hours?

The clinical-stage biotech company Anchiano Therapeutics Ltd. (Nasdaq: ANCN) saw its stock rising 40.12% in after-hours trades on Friday. The price of the company’s shares rose to $4.68 in extended trading, continuing the rally started in the regular session rising 18.44% to $3.34 at the ring of the bell. The rallies came in the absence of any directly linked news that could drive the stock to move but it could be attributed to the approaching financial results. Although the company has not provided the date yet to officially announce its results those are likely to be coming this week. The company is also to be going through a merger, as per a deal inked in December.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

What driving the stock:


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Anchiano, headquartered in Cambridge, MA, is a biopharmaceutical company developed to discover, develop, and commercialize new approaches to treat cancer. Anchiano is working on small molecules that inhibit Pan-Mutant-RAS in addition to stimulating the b-catenin pathway and inhibit PDE10 activity.

Read More

Anchiano in December announced the signing of a definitive merger agreement with Chemomab Ltd. The agreement’s highlights are as follows:

  • By the terms of the agreement, Chemomab shareholders would eventually become a majority shareholder in the combined company.
  • A public company, based on Chemomab’s lead product, CM-101, will be formed through the merger.
  • Investors who hold shares necessary to approve the merger with the respective companies have agreed to shareholder support agreements, allowing the merger to proceed.
  • Shareholders of Chemomab and holders of Chemomab equity awards will convert 100% of their equity holdings into shares of the new entity.
  • The current shareholders of Chemomab will own approximately 90% of the combined company upon closing, before the additional PIPE financing transaction.
  • Depending on the PIPE financing at the time of the closing along with Anchiano’s cash balance at the time of closing, the actual allocation may need to be adjusted.
  • The boards of directors of both companies have approved the proposed transaction.

    Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

  • A special meeting of Anchiano’s shareholders, due to be held in the first quarter of 2021, will be required to approve the merger. Other customary conditions must also be satisfied.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

Smith Micro Develops Inc. (SMSI) stock soars during current market trading. Here’s to know why?

Smith Micro Develops Inc. (NASDAQ: SMSI) stock surged by 2.39% during the current market trading session. Smith Micro creates software that simplifies and improves...

Drive Shack Inc. (DS) stock soars during after-hour trading, followed by no recent update

Drive Shack Inc. (NASDAQ: DS) stock declined by 3.94% at last close while the DS stock-price surged by 7.38% in the after-hour session. Drive...

SPX Flow Inc. (FLOW) stock surged during current market. Here’s why the stock is sky-rocketing?

SPX Flow Inc. (NASDAQ: FLOW) stock gained by 24.24% in the current market trading session. SPX FLOW, based in Charlotte, works to make the...

Platinum Group Metal Ltd. (PLG) stock surges during after-market trading. Here’s to know what’s happening?

Platinum Group Metal Ltd. (NASDAQ: PLG) stock declined by 8.54% at last close whereas the PLG stock price gains by 7% in the after-market...

TD Holdings Inc. (GLG) stock gains during current market trading. Here’s the recent update

TD Holdings Inc. (NASDAQ: GLG) stock gains by 5.01% in the current market trading session. TD Holdings, Inc. is a service provider in China...

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

NeuroMetrix Inc. (NURO) stock plunged during pre-market. Let’s find out why?

NeuroMetrix Inc. (NASDAQ: NURO) stock gained by 18.89% at last close while the NURO stock price losses by -4.12% in the pre-market trading session....

Related News

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

Smith Micro Develops Inc. (SMSI) stock soars during current market trading. Here’s to know why?

Smith Micro Develops Inc. (NASDAQ: SMSI) stock surged by 2.39% during the current market trading session. Smith Micro creates software that simplifies and improves...

Drive Shack Inc. (DS) stock soars during after-hour trading, followed by no recent update

Drive Shack Inc. (NASDAQ: DS) stock declined by 3.94% at last close while the DS stock-price surged by 7.38% in the after-hour session. Drive...

SPX Flow Inc. (FLOW) stock surged during current market. Here’s why the stock is sky-rocketing?

SPX Flow Inc. (NASDAQ: FLOW) stock gained by 24.24% in the current market trading session. SPX FLOW, based in Charlotte, works to make the...

Platinum Group Metal Ltd. (PLG) stock surges during after-market trading. Here’s to know what’s happening?

Platinum Group Metal Ltd. (NASDAQ: PLG) stock declined by 8.54% at last close whereas the PLG stock price gains by 7% in the after-market...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam