Why Shares Of Allena Pharmaceuticals Are Skyrocketing Today

Shares of small-cap penny stock Allena Pharmaceuticals ALNA shares are trading higher after the company announced it has terminated its previously announced at-the-market offering.

Allena Pharmaceuticals, Inc. previously entered into an At Market Issuance Sales Agreement with B. Riley Securities, Inc. on December 23, 2021, pursuant to which the company was able to issue and sell from time to time in an at-the-market offering shares of the Company’s common stock. On June 27, 2022, the company provided notice that it was terminating the sales agreement, effective immediately. 

Allena Pharmaceuticals Inc is a late-stage clinical biopharmaceutical company engaged in developing and commercializing first-in-class, oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders.

ALNA Price Action: Allena Pharmaceuticals, Inc.. has traded between $1.45 and $0.068 over a 52-week period.

The stock was trading about 142% higher at $0.29 per share on Wednesday at the time of publication.