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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.

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What driving the stock:

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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.

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

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