Dallas, Texas 12/16/2013 (FINANCIALSTRENDS) – Coronado Biosciences Inc (NASDAQ:CNDO) is a $72.98 million market capped bio tech firm which is considered a development stage drug maker. It has managed to accumulate net loss of $36 million loss over the past 12 months.
During trading on December 13 the stock shot up by a huge 20.7 percent to add to a huge 60.4 percent during trading in the past one month. This surge in the stock value which occurred during two trading sessions has reversed the prior one year’s market depreciation of 53 percent. Thanks to the big surge in the market valuation Coronado Biosciences Inc (NASDAQ:CNDO) stock is currently trading at price points which are 72 percent above its prior 52 week low price points.
The surge happened on the back of positive results which was reported by Eric Hollander on behalf of Coronado Biosciences Inc (NASDAQ:CNDO). Eric was the lead investigator who conducted the trail of its target drug TSO Immunotherapy. The results which were discussed last week were observations from 5 patients and conclusive and extensive results are expected to be completed by mid 2014.
Commenting about the initial results, Coronado Biosciences Inc (NASDAQ:CNDO) Chairman and CEO Dr. Harlan F. Weisman has been quoted as saying, “There is increasing evidence that immune dysregulation plays an important role in this developmental disorder and we are encouraged by the interim data from this pilot study with TSO. We believe autism is an area of unmet medical need where a natural immune system regulator like TSO may help a part of the autism population.”
The firm has been attempting to develop new age drugs which are designed to treat cancer diseases like cancer. In the past year this development stage drug firm has managed to plough the depths of $1.25 per share at low price points and $12.7 per share at the high price points.