News to Track: Liminal BioSciences Inc. (NASDAQ:LMNL)

Liminal BioSciences Inc. (NASDAQ:LMNL) stock identified change of 109.26% away from 52-week low price and recently located move of -96.31% off 52-week high price. It has market worth of $266.70MM. LMNL stock has been recorded 52.62% away from 50 day moving average and -86.88% away from 200 day moving average. Moving closer, we can see that shares have been trading 34.59% off 20-day moving average.

On Jan. 13, 2020, Liminal BioSciences Inc. (NASDAQ:LMNL) a clinical-stage biopharmaceutical company focused on developing novel therapeutics to treat unmet needs in patients with liver, respiratory and kidney disease,  provided a corporate update and outlined its key corporate and R&D priorities for 2020.

During 2019, Liminal BioSciences undertook the initial steps towards simplifying and transforming our business to focus our efforts on developing important new medicines for patients and building value for our shareholders, stated Kenneth Galbraith, Chief Executive Officer of Liminal BioSciences.

Key Achievements for 2019

  • USD $85 million in common equity raised from existing and new investors in the second quarter
  • Secondary listing of common shares on the Nasdaq Global Market completed in November
  • Divestiture of Prometic Bioseparations Limited, our affinity chromatography resins business, to KKR for potential gross proceeds of up to GBP 45 million
  • Strengthening of the Board of Directors and leadership team, including the addition of Ms. Moira Daniels as Head of Regulatory Affairs and Quality Assurance

Kenneth Galbraith said, 2020 has the potential to be a transformative year for Liminal BioSciences as we look forward to the filing of an amended Biological License Application (BLA) with the United States Food and Drug Administration (FDA) seeking approval of RyplazimTM (plasminogen) (Ryplazim) for the treatment of patients with congenital plasminogen deficiency. If approved, Ryplazim could address the serious unmet needs of patients with this disease and could be Liminal BioSciences’ first approved product.

The Healthcare sector company, Liminal BioSciences Inc. noticed change of -11.52% to $11.44 along volume of 8710 shares in recent session compared to an average volume of 14.51K. The stock observed return of 30.89% in 5 days trading activity. The stock was at 102.48% over one month performance. LMNL’s shares are at 105.39% for the quarter and driving a -96.81% return over the course of the past year and is now at 36.52% since this point in 2018.

The average volatility for the week at 18.27% and for month was at 22.66%. There are 23.31M shares outstanding and 3.27M shares are floated in market.

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