Highly Unusual Upside Call Spread in Small Biotech with Key Data
Astria Therapeutic (ATXS) massive unusual buy of 10,000 April $10/$15 call spreads with shares up 13% today clearing the 200-MA and consolidation flag. The $350M Biotech 1.85X Cash and 2X estimated FY27 sales with a low 3% short float for a speculative name. The Company’s current operating plan includes the development of STAR-0215 and STAR-0310, including (i) for STAR-0215, support for all program activities up to the initiation of the planned Phase 3 pivotal trial and (ii) for STAR-0310, the anticipated submission of an IND and the initiation and completion of the planned Phase 1a clinical trial of healthy subjects. ALPHA-STAR data remains on track for mid-2024 as a key catalyst.