What's Going On With PaxMedica Stock Today?

PaxMedica, Inc. PXMD shares are trading higher on Tuesday. The stock has been volatile over the past month. Here's a look at the details.

What To Know: The most recent catalyst moving PaxMedica stock was the annnouncement by the company on Nov. 7 of the publication of its Autism Spectrum Disorder Phase 2 study results in a peer-reviewed journal. The main purpose of the study was to assess the efficacy and safety of suramin intravenous infusions. The research demonstrated statistically significant progress in the Clinical Global Impressions-Improvement (CGI-I) scale within the 10 mg/kg group when compared to the placebo group.

Shares of the stock rose considerably in response to the news, with trading being halted and then resuming several times. However, the stock pulled back sharply in the days following the price gain.

On Tuesday, PaxMedica stock rebounded, possibly due to market strength related to a better-than-expected reduction in U.S. inflation in October, indicated by CPI data from the month.

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PXMD Price Action: Shares of PXMD were up 24.6% at $2.13 at the time of publication, according to Benzinga Pro. 

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