Shares of NeuBase Therapeutics Inc. (NBSE) were down -19.55% as of the most recent check, trading at $0.2333 in pre-market. The decline occurred in the absence of any major news, yet it was the catalyst for the recent session’s 20% increase in the NBSE stock.
What current events took place at NBSE?
A research partnership between NeuBase Therapeutics (NBSE) and a Top 10 Global Healthcare firm (the “Healthcare Company”) was recently revealed. The Healthcare Company will assess PATrOL technology from NBSE for three monogenic genetic illnesses as part of this study.
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The PATrOL platform from NeuBase Therapeutics is a PNA-based technology created to aid patients with both common and uncommon disorders by editing, upregulating, or downregulating gene activity. PATrOL gene editing differs from other methods since it doesn’t require bacterial enzymes (such as CRISPR-Cas9), which may boost fidelity and decrease immunogenicity while offering patients a safer alternative for in vivo gene editing.
With the use of the PATrOL technology, NBSE is able to produce a number of peptide nucleic acids (PNAs) that are intended to target specific genetic mutations and draw in the cell’s own high-fidelity nucleic acid repair system in order to correct them. Together with its healthcare company partner, NeuBase Therapeutics will investigate the potential of cutting-edge gene editing technologies for a number of hereditary illnesses.
In accordance with the conditions of the contract, NBSE and the Healthcare Company will work together to assess medication candidates for three confidential indications. The Healthcare Company will have the only right to license and develop the medication candidates made possible by this research assessment agreement, subject to specific terms and restrictions.
Continued from NBSE:
The management team and board of directors of the company conducted a strategic internal review of NeuBase Therapeutics as well. Several initiatives to streamline the business, lower operating costs, protect capital, and increase long-term shareholder value were part of the review.
Since the platform for gene editing has the greatest potential to increase long-term shareholder value, NeuBase Therapeutics (NBSE) made the strategic choice to concentrate its resources there. NBSE anticipates that this initiative, coupled with a significant cost-cutting strategy, will allow us to extend its cash runway beyond the second quarter of the calendar year 2024. Additionally, NBSE will be able to create the following generation of treatments to address various high-value genetic mutations thanks to its distinct gene editing abilities.