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Plasma Stocks Move After Trump Roundtable On COVID-19

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Plasma Stocks Move After Trump Roundtable On COVID-19

Plasma stocks were trading higher Friday after President Donald Trump encouraged Americans who have recovered from COVID-19 to donate their convalescent blood plasma as a treatment for the virus.

What Happened: Trump toured Red Cross headquarters wearing a mask on Thursday and met a man who had recovered from the virus donating plasma. 

"If you’ve had the virus if you donate it would be a terrific thing. We really need donations of the plasma. To those that have had the virus: You’ve gotten through it and I guess that means you have something very special there," Trump said. 

Why It’s Important: Convalescent plasma has been recommended as a possible treatment for COVID-19. Patients who have had the virus and recover develop antibodies against the virus that could be used to treat those fighting COVID-19.

So far it is estimated there have been 4.4 million cases of coronavirus in the U.S., and more than 150,000 people have died from the virus in the states. 

Price Action: Sonnet BioTherapeutics (NASDAQ: SONN) shares were trading up 89.69% at $5.52 at the time of publication Friday. The stock has a 52-week high of $54.60 and a 52-week low of $2.52.

Liminal BioSciences (NASDAQ: LMNL) shares were trading down 32.75% at $16 at the time of publication. The stock has a 52-week high of $31.45 and a 52-week low of $5.25.

Kamada Ltd (NASDAQ: KMDA) shares were down 0.55% at $8.97 at last check Friday. The stock has a 52-week high of $10 and a 52-week low of $4.40.

Related Link:

US GDP Plunges 32.9% In Historic Q2 Contraction Fueled By Coronavirus Pandemic

 

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