Replies to post #265 on Brooklyn ImmunoTherapeutics Inc (BTX)

[conix]

Careful. Got out at the open--not because I do not think this cannot become another GME play, just that at some point ....



Is Brooklyn ImmunoTherapeutics the next GameStop?

May 01, 2021 4:00 PM ETBrooklyn ImmunoTherapeutics, Inc. (BTX)

By: Jonathan M Block, SA News Editor

One of the best performing stocks in April was Brooklyn ImmunoTherapuetics (NYSEMKT:BTX), which only began trading in late March.
Shares have risen more than 1200% in the last month.

Brooklyn was formed through a reverse merger with the trivia apps company NTN Buzztime.

In April, Brooklyn's biggest announcement was its acquisition of an exclusive license for mRNA gene editing and cell therapies technology.


However, given the sudden rise in share price on little news or other catalysts, some are saying that Brooklyn is the target of a short squeeze play.

Users on the Wall Street Bets Reddit channel, the same group behind GameStop's spectacular rise earlier this year, have said for some time they have wanted to target biotech stocks as potential short squeeze plays.

Joshua Rodriguez of CNA Finance noted last month that before it became Brooklyn Immunotherapeutics, NTN Buzztime was heavily shorted and after the merger, the public float was only 1.12M shares.

The company's sole asset, IRX-2, is in phase 2b for squamous cell cancer of the head and neck and results are expected by the end of 1H 2021.

[conix]

Looks like the crowd is exiting. To stop this bleeding, BTX really needs to come out with very positive corporate developments.

The harder the run, the more pain there is on the way down. But there will be a higher base that will be built somewhere. Just do not know where that base is.

Other biotechs have begun their consolidation already with that higher base.