Shares of Biostar Pharmaceuticals Inc. (BSPM) Skyrockets in Wednesday’s Trading Session
Shares of Biostar Pharmaceuticals Inc. (NASDAQ: BSPM), a developer, manufacturer and marketer of pharmaceutical products for a variety of diseases and conditions in China, surged in Wednesday’s trading session.
The penny stock of BSPM ended the day 37.38% higher at $1.47.
BSPM shares surged on Wednesday after the company announced that it entered into a LOI with The Fourth Military Medical University (FMMU) to jointly conduct Phase 1 to 3 clinical trials for Viacom Pine II Cream drug.
Ronghua Wang, chairman and CEO of Biostar Pharmaceuticals, said that following the initial clinical research, Viacom has demonstrated encouraging results for the treatment of several skin diseases such as bacterial and fungal infections, dermatitis and eczema, which are common among members of PRC armed forces.
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