Why ABVC BioPharma Shares Are Trading Higher On Friday?

ABVC BioPharma Inc ABVC shares gained during the market trading session on continued momentum from yesterday's dietary supplement distribution deal and after a favorable report from Zacks Small-Cap Research.
Yesterday, ABVC Biopharma announced that BioKey would produce dietary supplements derived from the maitake mushroom in tablet and liquid forms.
In addition, BioKey has entered into a three-year distribution agreement with Define Biotech Co Ltd, Taiwan-based pharmaceutical marketing.
Zacks Small-Cap Research analyst M. Marin highlighted the company's two lead candidates, ABV-1505 and Vitargus (ABV-1701).
ABV-1505 is in Phase 2 for adult attention-deficit/hyperactivity disorder. Zacks values the ABVC stock at $9.50.
In 2022, ABVC is planning to begin a self-funded pivotal trial for Vitargus for retinal detachment vitreous hemorrhage.
Price Action: ABVC shares gained almost 20% at $4.08 before pulling back at $3.53, +6.68% during the market session on the last check Friday.

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