What Happened With Bio-Path Stock Today?

Bio-Path Holdings, Inc. (NASDAQ:BPTH) shares closed slightly higher Wednesday after the company provided an update from its ongoing Phase 1/1b clinical trial of BP1001-A in solid tumor patients and reported continued patient progress from its ongoing Phase 2 triple combination study of prexigebersen in Acute Myeloid Leukemia.

The Details: Bio-Path said the first patient treated with the higher dose in its Phase 1/1b study of BP1001-A has shown tumor regression and stable disease. 

“These positive responses mark a significant milestone for Bio-Path as they suggest our DNAbilize platform technology has the potential to produce multiple drug candidates capable of target-specific protein inhibition for over-expressed, disease-causing gene products,” said Peter H. Nielsen, CEO of Bio-Path.

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What Else: Bio-Path reported its second-quarter financial results last week and beat analyst expectations with GAAP losses of $1.16 per share.

Research and development expenses decreased to $1.9 million primarily due to decreased manufacturing expenses and partially offset by an increase in expenses related to its clinical trial for BP1002 in lymphoma due to increased patient enrollment in 2024.

Bio-Path shares are moving lower in Wednesday’s after-hours session.

BPTH Stock Prediction 2024: Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.

Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Bio-Path Holdings, an investor could make an assessment about a stock's long-term prospects using a moving average and trend line.

If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Bio-Path, the 200-day moving average sits at $5.55, according to Benzinga Pro, which is above the current price of $1.40. For more on charts and trend lines, see a description here.

Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.

BPTH Price Action: According to Benzinga Pro, Bio-Path Holdings shares are down 6.7% after-hours at $1.40 at the time of publication Wednesday.

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