Edge Therapeutics Inc (NASDAQ: EDGE) is having a strong start to the trading session this morning. However, if you’re looking for press releases or SEC filings, you’re not going to find much. The truth is that the company hasn’t released any news. However, there is a good reason for the gains. Today, we’ll talk about:
- Why EDGE stock is headed up;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why EDGE Is Headed Up
As mentioned above, Edge Therapeutics is having a strong day in the market today, but the company hasn’t submitted any news. So, what’s the deal? Well, it all has to do with a press release that was issued by NetScientific.
In the press release, NetScientific announced that it continues to explore strategic alternatives to maximise shareholder value. However, in the release, the company reminded investors that late in this month, it announced that its portfolio company, PDS Biotechnology, and EDGE will merge.
The announcement of the merger led to strong gains in the value of EDGE on the date that it was made. Now, there is a reminder that the merger is taking place, further exciting investors, and leading to the gains that we’re seeing today.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news leads to moves. While Edge Therapeutics didn’t release any news of its own, the reminder of recent merger news seems to be the source of excitement today. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (3:59), EDGE is trading at $0.6509 per share after a gain of $0.0835 per share or 14.72% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on EDGE. In particular, we’re interested in following the story surrounding the merger as investors are clearly excited about the transaction. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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