IPO Initial Public Offering

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Newly public Shuttle Pharmaceuticals (NASDAQ:SHPH) stock continued its wild post-IPO ride, with shares rallying for the second day after plunging over 70% last Friday.

Shares of Shuttle opened at $26.04, hitting a high of $45.94 in late morning. The shares recently changed hands at $33.90, up 19% from Tuesday’s close, at approximately 12:15 p.m. ET.

Shuttle held an initial public offering last Wednesday, raising $10M after offering 1.23M shares at $8.125 per share. The stock rocketed to a high of $84.70 during its debut session before closing at $38.48, up 373% from its IPO price.

Since its debut, shares of the radiation therapy medication developer have traded widely, hitting an all-time high of $126.26 last Thursday only to plunge to an all-time low of $11.77 the next day. The stock shot up 91% to close at $28.50 on Monday.

Based in Maryland, Shuttle has been working on treatments to help boost the effectiveness of radiation therapies for cancer.

For a more in-depth look at Shuttle, check out SA contributor Donovan Jones’s “Shuttle Pharmaceuticals Targets $14 Million IPO for Radiation Therapy Enhancement”.

Image and article originally from seekingalpha.com. Read the original article here.

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