Reneo Pharmaceuticals is a biotechnology company focused on developing innovative therapies for rare mitochondrial diseases and other genetic disorders
The company is dedicated to advancing treatments that target the underlying mechanisms of these conditions to improve patient outcomes and quality of life. Reneo's research efforts are centered on harnessing the potential of small molecule drugs that can enhance mitochondrial function and metabolism, addressing significant unmet medical needs in the field of rare diseases. Through its cutting-edge scientific approach and commitment to patient-centered care, Reneo aims to make a meaningful impact in the lives of individuals affected by these challenging conditions.
Shares of Reneo Pharmaceuticals, Inc. (NASDAQ: RPHM) shares rose sharply during Wednesday’s session after Concentra sent an acquisition proposal to acquire 100% of equity of the company for $1.80 per share. Reneo Pharmaceuticals shares climbed 13.6% to $1.59 on Wednesday.
Shares of Ascent Industries Co. (NASDAQ: ACNT) rose sharply in pre-market trading as the company reported the sale of the business of Specialty Pipe & Tube for around $55 million in an all-cash deal. Ascent Industries shares surged 7.4% to $8.69 in pre-market trading.
U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite turning lower on Thursday. The Dow traded up 0.04% to 37,105.00 while the NASDAQ fell 0.44% to 14,669.25. The S&P 500 also fell, dropping, 0.10% to 4,702.57.
Reneo Pharmaceuticals Inc (NASDAQ: RPHM) shares are sinking after the company released data from its pivotal STRIDE Phase 2b study of mavodelpar in adult patients with primary mitochondrial myopathies (PMM), a group of mitochondrial diseases that cause
Shares of Amtech Systems, Inc. (NASDAQ: ASYS) shares fell sharply during Thursday’s session after the company reported worse-than-expected fourth-quarter sales results and issued first-quarter sales guidance below estimates.
