Chromocell Therapeutics (NYSE:CHRO) Stock Price Down 15.1% – Here’s Why

Chromocell Therapeutics Co. (NYSE:CHRO)’s stock price traded down 15.1% during mid-day trading on Friday . The company traded as low as $0.58 and last traded at $0.59. 153,515 shares traded hands during mid-day trading, an increase of 130% from the average session volume of 66,810 shares. The stock had previously closed at $0.69.

Chromocell Therapeutics Stock Down 15.1 %

The firm’s fifty day moving average is $0.65 and its 200 day moving average is $0.92.

About Chromocell Therapeutics

Chromocell Therapeutics Corporation, a clinical-stage biotech company, focuses on the development and commercialization of new therapeutics to alleviate pain. The company intends to selectively target the sodium ion-channel known as NaV1.7, as well as other receptors in the NaV family. Its lead compound comprises CC8464, which is in Phase 2a clinical trials for use in the treatment of erythromelalgia, as well as other fields of neuropathic pain and acute and chronic eye pain.