ASLN stock exploded higher by more than 186% on November 22, 2019, when Aslan Pharmaceuticals announced overnight that new preclinical data characterizing ASLAN003 as a potential treatment for acute myeloid leukemia was published in the November issue of Haematologica Journal. Source: http://www.haematologica.org/content/early/2019/11/06/haematol.2019.230482.long
“The findings support ASLAN003’s potential as a potent human dihydroorotate dehydrogenase inhibitor and novel target for differentiation therapy with a favourable toxicity profile,” the company said in a statement. In the study, ASLAN003 was shown to inhibit protein synthesis and induce differentiation of AML cell lines via activation of AP-1 transcription factors, it added. The study also confirmed that ASLAN003-meditated AP-1 activation is important for the reversal of the blocked differentiation of AML cells, according to Aslan. The company recently completed a phase 2a study of ASLAN003 in AML “and is reviewing future development plans.”
Looking at the 30-minute chart on ASLN stock, we would like to see ASLN hold above the $3.50 support area. As long as we stay above this level, ASLN is in a bullish uptrend.
The current pullback will set up another opportunity for a long entry next week. Make sure to add ASLN stock to your watch list and stalk it for a good entry.