Thinly traded nano cap Seneca Biopharma (SNCA +129%) (formerly Neuralstem) has annihilated short sellers on a whopping 90x surge in volume.
Investors are reacting to its presentation at the Biotech Showcase and Sachs Associates Neuroscience Innovation Forum, both held in San Francisco this week.
The presentation focused on three potential indications of lead candidate NSI-566, a spinal cord-derived stem cell therapy, for amyotrophic lateral sclerosis (ALS), chronic stroke and chronic spinal cord injury.
ALS: Phase 1&2 results showed preliminary clinical benefit versus historical data. A pivotal trial is next up.
Stroke: Phase 1 data showed improvement in motor function from baseline.
Spinal cord injury: Phase 1 results showed some gain in voluntary muscle movement below the injury site.
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