Hello Traders-Jeff Bishop Here!
If you’ve been following our updates about MyMD, you know we’ve been focusing primarily on MYMD-1® and its Phase 2 trial as a therapy for delaying aging and prolonging healthy lifespan.
To do this, MYMD-1® is designed to selectively reduce levels of TNF-α in adults.
Why should you care?
Well, TNF-α is believed to contribute to the aging process (sarcopenia) as well as autoimmune diseases, such as rheumatoid arthritis, psoriatic arthritis and Crohn’s disease among many others.
TNF-α blockers are among the most prescribed drugs by revenue in the world – a global market worth about $40 billion a year! Major players in this market include Humira (surpassing $20B in revenue in 2021), Enbrel ($4.35B in 2021) and Remicade ($3.2B).
And currently NONE of these TNF-α blockers can be taken ORALLY. Humira and Enbrel involve subcutaneous injections, while Remicade’s is an IV infusion over a period of not less than 2 hours. What a pain (literally)!
In stark contrast, MYMD-1® CAN BE TAKEN ORALLY!
To reiterate, all currently available TNF-α blockers require delivery by injection or infusion — and no approved TNF inhibitor has ever been dosed orally – so MYMD-1® would be the first if successful.
This would be a huge advantage over the other drugs for not only patients but also providers. And who could possibly root against that???!!!
Injection, infusion or pill…hmmm….
So if the potential of MYMD-1® this doesn’t have you jazzed up, perhaps diving into the company’s trading will!
Traders should note that MYMD has been consolidating around the crucial $3.30 support level for about 2-weeks now. It is building energy for the next move.
The stock has held up remarkably well in face of an extremely weak market. This is a very encouraging signal.
Active traders should look for 2 key levels right now: a closing price above $3.45, which is the 5-day moving average. I never like to be a buyer of stocks that can’t hold above the 5-day moving average, so I want to see consistent closes above that level.
I then want to see a break above $3.70 which is above the mid-point of the Keltner channel. To me, that is one of the clearest signals that separate a bullish trend from a bearish one.
This should be an exciting week for MYMY so keep it on your radar!
62 Calef Hwy #233 Lee, New Hampshire 03861 United States
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