Lunai Bioworks Inc. (LNAI) stock soared 56.77 percent, or $1.62, to $4.46 on Wednesday after the company issued a shareholder letter outlining progress in its AI-driven biodefense and precision neurology businesses.
The stock is currently trading at $4.46, compared with its previous close of $2.85 on the Nasdaq. Shares opened at $4.74 and traded between $4.38 and $5.02 during the session. Trading volume reached 19.41 million shares, well above the average daily volume of 1.78 million shares.
The update highlighted the company's first revenue-generating multi-year U.S. government defense contract, expansion of its Pathfinder Consortium with leading research institutions, ongoing neurology collaborations, and efforts to pursue legal action against alleged naked short-selling activity.
LNAI shares have traded between $1.21 and $31.04 over the past 52 weeks.
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