Over the course of the past months, many companies have come into focus among investors as viable coronavirus plays due to their work with regards to COVID-19 vaccines or medicines.
One such company is Relief Therapeutics (OTC: RLFTF), which has come into focus among investors due to its COVID 19 medicine RLF 100. On Friday, the Relief stock was on the move and managed to record gains of as much as 10% as investors flocked to the stock.
The company’s product RLF 100 is currently at an advanced stage but the rally might have been triggered by another development. Back on March 12, the company had announced that it got into a share purchase agreement with some institutional investors. As per the terms of the agreement, the company is going to sell 41,459,370 shares to the investors for the price of CHF 0.2412. This announcement might have led to the rally on the stock on Friday.
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.