Home Financial Markets Why Intec Pharma Ltd (NTEC) stock rallied on Monday?

Why Intec Pharma Ltd (NTEC) stock rallied on Monday?

Intec Pharma Ltd (NTEC) stock started the new week with a bang and it gained 17.51% in the normal trading on Monday, May 10, 2021, to close the session at $4.16 per share. NTEC continued its momentum in the after-market session and surged 23.56% to close at $5.14 per share. NTEC shares have declined 11.11% over the last 12 months, and they have moved up by 7.77% in the past week. Over the past three months, the stock has lost 19.07%, while over the past six months, it has surged 48.57%.

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

Let’s discuss its recent news.

Merger Agreement with Decoy Biosystems

On March 15, 2021, Intec Pharma Ltd entered into a definitive agreement with Decoy Biosystems, Inc.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Read More

The combined company will advance its immunotherapy platform to battle a variety of tumour types and chronic viral infections.

The former Decoy stockholders are expected to own approximately 75% of the combined company, and the Intec shareholders are expected to own approximately 25% of the combined company, upon completion of the merger. 

Research collaboration with GW Pharma

On December 9, 2020, Intec Pharma Ltd entered into a feasibility agreement with GW Research Limited (GW), London, the U.K. to explore using the Accordion Pill platform for an undisclosed research program.

Additional details of the agreement were not disclosed.

Financial results

On Nov. 5, 2020, Intec Pharma Ltd. reported financial results for the third quarter ended September 30, 2020.

Q3 2020 financial highlights

  • Intec Pharma suffered a net loss of approximately $3.7 million in Q3 2020 compared with the net loss of approximately $20.4 million in Q3 2019.
  • Loss per ordinary share was $0.95 for the three-month period ended September 30, 2020, compared with $12.16 for the three-month period ended September 30, 2019.
  • Research and development expenses were approximately $2.1 million in Q3 2020, compared with approximately $8.4 million in the three months ended September 30, 2019.
  • General and administrative expenses were approximately $1.5 million for Q3 2020 compared with approximately $2.2 million in Q3 2019.
  • NTEC used approximately $8.9 million net cash in operating activities in Q3 2020 compared to $23.9 million in Q3 2019.
  • The Company had cash and cash equivalents of approximately $17.1 million on September 30, 2020.

1-for-20 Reverse Share Split

On October 29, 2020, Intec Pharma Ltd announced a 1-for-20 reverse share split of its outstanding ordinary shares. The reverse share split became effective after trading closed on October 29, 2020, and the Company’s ordinary shares began trading on a split-adjusted basis on the Nasdaq Capital Market on October 30, 2020, under the Company’s existing symbol “NTEC.”

Conclusion

Well, as of this writing we have no recent developments to justify its rush on Monday. We cannot predict whether it will continue its positive momentum on Tuesday or not.

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

About Intec Pharma Ltd.

Intec Pharma is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. The Company’s Accordion Pill is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and a specific release mechanism.

Get The Best Stocks To Trade Every Day!

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

Must Read

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Why Iconix Brand Group Inc (ICON) stock turnaround in the after-hours on Thursday?

Iconix Brand Group Inc (ICON) shares started the Thursday, June 17, 2021, trading be losing 1.87% and close the normal trading session at $3.14...

ISun Inc. (ISUN) stock surged during current market trading. Here’s the update

ISun Inc. (NASDAQ: ISUN) stock gained by 19.51% in the current market trading. iSun, based in Burlington, Vermont, is a company built on ideals...

The Trade Desk Inc. (TTD) stock plunged during pre-market. Here’s to know why?

The Trade Desk Inc. (NASDAQ: TTD) stock gained by 0.76% at last close whereas the TTD stock price declines by 90.03% in the pre-market...

Synaptogenix Inc. (SNPX) stock soars during after-hour trading. Why so?

Synaptogenix Inc. (NASDAQ: SNPX) stock gained by 6.33% at last close while the SNPX stock price rises further by 13.48% in the after-hours trading...

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Anpac Bio-Medical Science Inc. (ANPC) stock soars during pre-market trading. Here’s the update

Anpac Bio-Medical Science Inc. (NASDAQ: ANPC) stock gained by 0.46% at last close while the ANPC stock price surged by 22.40% in the pre-market...

VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it high?

VivoPower International Inc. (NASDAQ: VVPR) stock gained by 1.13% at last close while the VVPR stock price surged during pre-market trading by 1.54%. VivoPower...

Related News

Orphazyme Inc. (ORPH) stock plunged during pre-market trading. Let’s see why?

Orphazyme Inc. (NASDAQ: ORPH) stock declined by 10.18% at last close whereas the ORPH stock price fell during the pre-market trading session by 58.18%....

SPI Energy Inc. (SPI) stock surged in the current market trading. Here’s the update

SPI Energy Inc. (NASDAQ: SPI) stock soars by 15.42% during the current market trading session. SPI Energy is an international renewable energy company that...

Why is Autolus Therapeutics plc (AUTL) stock rising today?

Shares of  Autolus Therapeutics plc (AUTL) stock were rising today on June 11, 2021, following the release of the presentation data related to obe-cel...

General Employment Enterprises Inc. (JOB) stock soars during pre-market trading. Here’s to know why?

General Employment Enterprises Inc. (NASDAQ: JOB) stock gained by 1.96% at last close while the JOB stock price rises by 3.88% in the pre-market...

U.S Concrete Inc. (USCR) stock soars during pre-market trading session. What’s driving it high?

U.S Concrete Inc. (NASDAQ: USCR) stock declined by 0.66% at last close while the USCR stock price gained by 27.88% in the pre-market trading...

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

Get The Best Stocks To Trade Every Day!

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

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam