Why Impel NeuroPharma Gained 17% Today Then Faded
The morning after a big party is nowhere nearly as much fun as the event itself. A big example of this dynamic was Impel NeuroPharma (NASDAQ: IMPL) stock, which saw a big price pop Friday and early on Tuesday before pulling back considerably. From a gain of as much as 17% on the day, the shares were only marginally higher in late afternoon trading.
For Impel NeuroPharma, Friday was the kind of day all biotech investors dream about. That morning the company received its first-ever Food and Drug Administration (FDA) approval for the nasal spray migraine treatment Trudhesa. This not only puts it on the map as a commercial-stage operator; it provides the company with its first source of revenue.
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Source Fool.com
