Nexentis Technologies Inc. (NXTS) shares surged 246.55 percent, gaining $12.52 to $17.60 on Monday, after the company announced that its wholly owned subsidiary, MitoCareX Bio Ltd., entered into an engagement with Boltz, PBC, an AI-focused drug discovery research lab.
The stock is currently trading at $17.60, compared with its previous close of $5.08 on the Nasdaq. During the session, shares opened at $11.14 and traded between $11.05 and $23.80. Trading volume surged to 45.79 million shares, dramatically above the average daily volume of 208,319 shares.
The collaboration aims to accelerate the identification of novel small-molecule drug candidates targeting selected solute carrier (SLC) proteins using a combination of MitoCareX's proprietary MITOLINE platform and Boltz's biomolecular AI foundation models.
Nexentis' 52-week range is $3.38 to $89.92.
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