Can-Fite BioPharma’s Stock (CANF) Jumps For Further Clinical Study of Piclidenoson

A limited number of biotech companies are developing vaccines for treating COVID-19 patients while thousands are just busy with other projects. Can-Fite BioPharma (NYSE: CANF) has received approval for phase 2 of a clinical study of a strong candidate for COVID-19 treatment, Piclidenoson.

Until $10 CANF might soar drastically as many investors are losing hopes on other industries. Healthcare stocks have been on headlines for seven months after the virus breakout from China. Many penny stocks have grown to price levels that take years to achieve.

CANF is now under $3 which is so cheap for the strategy called “buy low sell high”. If an investor wants to short the whole stock market he may buy only coronavirus stocks.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.