Eye Catching Stock: Aevi Genomic Medicine (NASDAQ:GNMX, Aevi)

Aevi Genomic Medicine (NASDAQ:GNMX, Aevi) stock observed trading -83.21% off 52-week high price. On the other end, the stock has been noted 56.67% away from low price over the last 52-weeks. The stock disclosed a move of 30.47% away from 50 day moving average and -45.37% away from 200 day moving average. Moving closer, we can see that shares have been trading 30.79% off 20-day moving average. It has market cap of $14.99M.

On Aug. 7, 2019, Aevi Genomic Medicine (NASDAQ:GNMX, Aevi) reported that it has obtained the right to exercise an exclusive global license for MEDI2338, a Phase 2-ready fully human monoclonal antibody (mAb) that targets interleukin 18 (IL-18). The Company plans to initially develop MEDI2338 for adult onset Still’s disease (AOSD), a serious rare and orphan rheumatological disease with no currently approved biologic therapies in the US.  Further development for several other rare autoinflammatory disorders that are driven by IL-18 will follow.

Under the terms of the agreement, Aevi will have the right to exercise an exclusive global license to develop and commercialize MEDI2338.  The Company will pay a combined mid-single digit millions in cash and equity upon exercise of the option, up to $162 million upon achievement of certain development and sales-related milestones and tiered low double-digit royalties on global annual product sales. Exercising the option is contingent on Aevi securing additional funding. The Company will be fully responsible for the development and commercialization of the program.

We are very excited to license this program from AstraZeneca and look forward to advancing this potential rare disease therapy into clinical development, said Garry Neil, M.D., Chief Scientific Officer at Aevi Genomic Medicine. AOSD is a rare, life-altering inflammatory disease characterized by fevers, rash and joint pain and striking elevation of IL-18.  Many patients also suffer liver, cardiopulmonary and renal complications.  Patients have limited available therapeutic options.  Because IL-18 appears to play a central role in the disease, we believe that MEDI2338 could prove to be an effective treatment for these patients.  A clear mechanism of action and safety profile have already been established in patients.

The USA based company Aevi Genomic Medicine moved with change of 44.88% to $0.23 with the total traded volume of 43882304 shares in recent session versus to an average volume of 1523.2K. The stock was observed in the 5 days activity at 42.25%. The one month performance of stock was 26.55%. GNMX’s shares are at 3.16% for the quarter and driving a -77.40% return over the course of the past year and is now at -66.43% since this point in 2018.  Right now the stock beta is 0.78. The average volatility for the week and month was at 19.91% and 13.63% respectively. There are 63.8M shares outstanding and 34.75M shares are floated in market.

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