Arca BioPharma Inc. (ABIO) Shows Strength After Breaching 20 day, 50 Day and 200 Day MA

ARCA Biopharma Inc (NASDAQ: ABIO) said it has received a U.S. patent covering methods of treating heart failure patients with the drug bucindolol based on genetic testing, soaring its shares by 207% by mid-day trading. Arca Biopharma Inc. (ABIO) is seeking approval for its experimental drug bucindolol hydrochloride, to treat chronic heart failure and has received a fast-track designation from the U.S. Food and Drug Administration for same.

ARCA Biopharma Inc. (ABIO), which started the Friday session with wide gap-up opening following the FDA approval and the patent it has received, has raced past its 20 day, 50 day and 200 day MA in the same session by mid-day trading. The move follows a long term of consolidation shown by ARCA Biopharma Inc. (ABIO), which was earlier moving with a symmetrical triangle pattern with its 20 day MA and 50 day MA.