Why Novus Therapeutics Is Trading Higher Today

Novus Therapeutics NVUS shares are trading higher on Tuesday after the company announced the purchase of Anelixis Therapeutics.

Novus Therapeutics is engaged in the biotechnology sector. As a pharmaceutical company it is focused on the acquisition, development, and commercialization of ear, nose, and throat related products. It has two platforms: Foam Platform(OP0201 and OP0202) and Surfactant Program(OP0201). OP0102 is developed with the intent to be used as a delivery vehicle for drugs treating ears, as well as the nasal and sinus cavities. OP0201 is being developed as a potential treatment option for patients with otitis media and Eustachian tube dysfunction.

Novus Therapeutics shares were trading up 179.68% at $1.06 on Tuesday during the time of publication. The stock has a 52-week high of $1.45 and a 52-week low of 25 cents.