MyMD Pharmaceuticals (NASDAQ:MYMD) Shares Up 17.9% – Here’s What Happened

MyMD Pharmaceuticals, Inc. (NASDAQ:MYMD)’s share price was up 17.9% on Thursday . The company traded as high as $1.53 and last traded at $1.45. Approximately 640,780 shares changed hands during mid-day trading, an increase of 378% from the average daily volume of 134,123 shares. The stock had previously closed at $1.23.

MyMD Pharmaceuticals Stock Performance

The company has a 50 day simple moving average of $1.40 and a 200 day simple moving average of $1.64.

MyMD Pharmaceuticals Company Profile

MyMD Pharmaceuticals, Inc, a clinical development stage pharmaceutical company, focuses on developing various therapeutic platforms to treat the aging and age-related and autoimmune diseases, and chronic pain, anxiety, and sleep disorders. The company is developing MYMD-1, a drug platform based on a clinical stage small molecule that regulates the immune system and its pro-inflammatory cytokines to prevent and treat autoimmune diseases and age-related illnesses, and a Phase 2 clinical trial for sarcopenia, multiple sclerosis, diabetes, inflammatory bowel diseases, and rheumatoid arthritis; inflammation related depression and anxiety; and COVID-19-associated depression.