There is no news that could back Statera (Nasdaq: STAB) shares rocketing 73% in the premarket. Suspiciously, insider buying is no exception here in saving the stock from sliding towards second zero. The biotech stock has not delivered any positive earnings recently since revenue sources were finished long ago.
Through five trading sessions, STAB has surged 77% although it had news a month ago. There is no need to look at its technical analysis since it is still in cash-burning mode.
In the European market, Statera has applied for a patent (EP3206708) for the treatment of radiation-related disorders. If the company gets it from the EU a fresh grant could be provided by new investors.