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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Alvontech | NASDAQ:ALVO | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.005 | 0.04% | 13.50 | 12.05 | 14.09 | 13.61 | 13.41 | 13.61 | 42,744 | 22:59:00 |
From May 2023 to May 2024
By Dean Seal
Shares of Alvotech have rebounded on Monday from a minor selloff last week following the company's disclosure that approval for its drug candidate AVT02 would likely be delayed in the U.S.
The stock is up 20% at $9.30 in premarket trading. At Friday's close, shares had fallen 22% since the start of the year.
The Icelandic company said Wednesday that it had received a complete response letter from the U.S. Food and Drug Administration for a second biologics license application it submitted for AVT02, a biosimilar candidate to Abbvie's Humira.
Because approval is likely to be delayed, Alvotech said it would explore options to raise additional capital to continue advancing pipeline development in the near-term.
Shares sank by more than 8% the next day but recovered on Friday to close at $7.74.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
July 03, 2023 09:22 ET (13:22 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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