NLS Pharmaceutics (NASDAQ:NLSP) stock is taking a beating on Monday as the company’s shares come down from a rally on Friday.
The news that sent shares of NLSP stock higher on Friday concerned an exclusive option to license in-license Aexon Labs’ Dual Orexin Receptor Agonists platform. That would allow it to both develop and commercialize assets made with that platform.
NLS Pharmaceutics has until the end of March 2024 to exercise this option. It’s already paying $30,000 for the exclusive option and will pay another $170,000 if it executes it.
Alexander Zwyer, CEO of NLS Pharmaceutics, said the following about that news.
“These new compounds, in addition to our current pipeline, including Mazindol ER for the treatment of narcolepsy, along with NLS-4 focused on idiopathic hypersomnia, long-COVID and chronic fatigue syndrome, and NLS-11, addressing Kleine-Levin Syndrome and neurodegenerative diseases will further complement and strengthen our hypersomnia franchise.”
NLSP Stock Movement
NLSP stock is falling 24.4% as of Monday morning with some 481,000 shares changing hands. For the record, the stock saw a 39% rally on Friday with over 25 million shares traded. For the record, its daily average trading volume is about 530,000 shares.
Outside of this, there are plenty of other stock market stories for traders to read about on Monday!
A few examples include what’s going on with shares of WiSA Technologies (NASDAQ:WISA) and Hawaiian Holdings (NASDAQ:HA) stock, as well as the biggest pre-market stock movers this morning. You can read up on all of these topics at the following links!
More Monday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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