(RTTNews) – Shares of Axcella Health Inc. (AXLA) jumped 27% on Friday morning after the company disclosed that Flagship Ventures has bought additional stake in the company.
AXLA is currently trading at $6.66, up $1.41 or 26.80%, on the Nasdaq.
In a regulatory filing, Axcell disclosed that on May 18, Flagship Fund IV, Flagship Fund IV-Rx and Flagship Opportunities I purchased an additional 1,52 million shares, 380 thousand shares and 1.9 million shares, respectively at $4.75 per share. Axcella is a developer of therapies for metabolic disorders based on endogenous metabolic modulators (EMMs). Lead candidate is AXA1125 for the potential treatment of nonalcoholic steatohepatitis (NASH).
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