Benitec Biopharma Inc. (NASDAQ: BNTC) stock has more than doubled in value in recent weeks after rallying by more than 190% in one day.
The meteoric rise stems from investors jostling for positions in the wake of regulatory fillings indicating Morgan Stanley has scooped 249,174 shares of its stock for a 5.2% stake. The Morgan Stanley investment has once again affirmed the company’s long-term prospects as one of the developers of much-needed vaccines and products for battling diseases grappling the world. BenitecBiopharma is emerging as a key player in the development of vaccines using RNA technology.
The company is currently using the technology to develop orphan diseases and infectious diseases treatments, including treatment for Oculopharyngeal Muscular Dystrophy (OPMD) and Hepatitis B Virus (HBV). With the Morgan Stanley investment BenitecBiopharma gains access to substantial capital that it can use to ramp up the development of its novel treatment. Trading volume surging in recent weeks all but affirms strengthened investor confidence in the biopharma stock. Likewise, it looks set to continue powering high.
Finance and Entertainment Reporter
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