Redx Pharma (LON:REDX) Shares Up 31.6% – Here’s What Happened

Redx Pharma Plc (LON:REDX)’s share price rose 31.6% during mid-day trading on Thursday . The stock traded as high as GBX 33 ($0.42) and last traded at GBX 15 ($0.19). Approximately 1,420,135 shares were traded during trading, an increase of 101% from the average daily volume of 707,637 shares. The stock had previously closed at GBX 11.40 ($0.14).

Redx Pharma Price Performance

The firm has a market capitalization of £58.35 million, a PE ratio of -150.00 and a beta of -0.53. The business has a 50-day moving average of GBX 15 and a 200 day moving average of GBX 14.31. The company has a current ratio of 1.11, a quick ratio of 1.93 and a debt-to-equity ratio of 527.00.

Redx Pharma Company Profile

Redx Pharma Plc engages in drug discovery, pre-clinical development, and licensing activities in the United Kingdom. It discovers and develops small molecule drugs for treating fibrotic disease, cancer, and the emerging area of cancer-associated fibrosis in the areas of unmet medical needs. The company also develops zelasudil (RXC007), a selective rho associated coiled-coil containing protein kinase 2 (ROCK2) inhibitor, which is in Phase 2 clinical trial for the treatment of multiple interstitial lung diseases and cancer-associated fibrosis; RXC008, a potential first-in-class GI-targeted ROCK inhibitor that is in preclinical studies for the treatment of fibrostenotic Crohn's disease; and zamaporvint (RXC004), a porcupine inhibitor that is in Phase 2 clinical trial for targeted therapy of Wnt-ligand dependent cancers.