The stock of Allena Pharmaceuticals, Inc. (ALNA) slightly declined in the pre-market after the company announced its clinical and corporate update in a press release. The stock valued at around $0.51 in the pre-market. This is a loss of around 4.21% from the previously closed value. At the end of the last trading session, the stock closed at $0.58. The volume of the stock traded in the last trading session was approximately 938.89K shares.
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Reasons for the ALNA stock decline
On 4th January, 2022, Allena Pharmaceuticals, Inc. (ALNA) announced the report about clinical and corporate update in a press release. They updated about the orally-administered enzyme ALLN-346, which is in the process of the treatment of hyperuricemia and gout. In Phase 2a Study 201 it showed a statistically substantial decrease in serum uric acid and a well-tolerated safety profile in the 1st cohort of patients with hyperuricemia and chronic kidney disease.
To discuss the initial Study 201 dataAllena will host a webinar with Key Opinion Leaders Robert Terkeltaub, M.D. and David S. Goldfarb, M.D. today at 8:00 am ET. To carry out ALLN-346 Phase 2a Study 202 they are continuously inducting patients with gout and stages 2 and 3 chronic kidney disease in parallel cohorts. The results from both cohorts will be announced in first quarter of 2022.
Allena Pharmaceuticals, Inc. (ALNA) right now is assessing potential changes to the important URIROX-2 Phase 3 trial of Reloxaliase in Enteric Hyperoxaluria. They are finding ways to decrease the size and period of the trial and plans to discuss similar changes with the FDA during quarter one of 2022.
Effect on the stock
As soon as the news hit the market, the stock of ALNA decreased slightly by 3.3%. The First-quarter of 2022 will be important for the ALNA as they will announce results of the studies they are conducting. It will have significant effect on the stock price of ALNA.
Conclusion
Right now the stock of ALNA is on slight decline but the results from both the cohorts’ trials and studies could prove to have positive effect on the stock, if the results from the studies are positive.
