Acrivon Therapeutics, Inc. (ACRV) experienced a 14% increase in its stock value on Wednesday, following the announcement that the U.S. Food and Drug Administration (FDA) has granted special designation to its ACR-368 OncoSignature assay. This advanced multiplex immunofluorescence test is designed to identify endometrial cancer patients who are likely to benefit from ACR-368 treatment.
Currently, ACRV is trading at $6.77, marking an increase of $0.86 from its prior closing price of $5.91. Throughout the trading day, the stock has encountered fluctuations, peaking at $8.00 and dipping to a low of $5.83. Notably, trading volume has reached 0.67 million shares, a substantial rise compared to the average of 0.05 million shares.
The stock remains within a 52-week range of $3.19 to $11.90. The FDA's recognition underscores the test's potential to enhance the treatment or diagnosis of serious, life-threatening conditions.
