180 Life Sciences Corp. (ATNF) stock plunged on Wednesday, But Why?

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MGTA Stock

180 Life Sciences Corp. (ATNF) shares plunged 14.06% in after-hours on Wednesday, December 01, 2021, and closed the daily trading at $4.34. Even in the regular trading session, ATNF’s stock lost 20.85%. ATNF shares have risen 92.75% over the last 12 months, and they have moved up 17.99% in the past week. Over the past three months, the stock has lost 23.60%, while over the past six months, it has declined 43.58%.

Let’s have a look at its recent news and developments.

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ATNF at International Dupuytren Symposium

On December 01, 2021, Professor Jagdeep Nanchahal from the University of Oxford, a co-founder of 180 Life Sciences, presented a keynote address entitled ‘Re-purposing anti-TNF for Dupuytren’s Disease’ at the 2021 International Dupuytren Symposium.

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The professor also presented the top-line data from the phase 2b clinical trial, for patients with early-stage disease, which met the primary endpoint of nodule hardness and the secondary endpoint of nodule size on ultrasound scan with statistically significant differences.

The ATNF’s primary platform is a novel program to treat fibrosis using anti-TNF (tumour necrosis factor).

Patent portfolio expansion

On November 22, 2021, 180 Life Sciences Corp. (ATNF) extended its patent portfolio with the recent grant of new patents to Yissum Research Development Company of the Hebrew University in both the US (19 Oct 2021, patent no US 11,149,014) and Canada (26 Oct 2021, patent no CA 2,944,837).

ATNF new appointment

On November 03, 2021, 180 Life Sciences Corp. (ATNF) appointed Quan A. Vu to the role of Chief Operating Officer/Chief Business Officer.

Mr Vu has 20 years of hands-on biopharma experience. He is a highly versatile and accomplished strategy, corporate/business development, finance and operations executive and is also known as a consummate dealmaker.

 ATNF effects of CBG report publication

On October 26, 2021, 180 Life Sciences Corp. (ATNF announced that its pre-clinical study report on the effects of CBG (cannabigerol) derivatives on pain, inflammation and obesity was published in the journal Molecules.

ATNF Intellectual Property Portfolio Expansion

On September 30, 2021, 180 Life Sciences Corp. (ATNF) received a Notice of Allowance, from the United States (US) Patent and Trade Office, for application 16/661,769, Method for Reducing Post-Operative Cognitive Dysfunction (POCD).

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Well, as of this writing we are unable to find any news which could justify its recent poor performance on Wednesday. Let’s see how it performs on Thursday?


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