Unusual May Calls Bought in Biotech into Key Data
Aclaris (ACRS) IV rising with May $15 calls bought 2200X $2 to $2.30 in unusual action, a $955M Biotech trading just under 4X cash. Zunsemetinib has the potential to be the first-in-class MK2 inhibitor across multiple large-market autoimmune indications including Rheumatoid Arthritis, Psoriatic Arthritis, and Hidradenitis Suppurativa with upcoming Phase 2 data in Hidradenitis Suppurativa due in the middle of the first half of 2023