Innovate Biopharmaceuticals Inc (NASDAQ:INNT) Shorted Shares Decreased By 6.28%

The stock of Innovate Biopharmaceuticals Inc (NASDAQ:INNT) registered a decrease of 6.28% in short interest. INNT’s total short interest was 1.73 million shares in September as published by FINRA. Its down 6.28% from 1.85 million shares, reported previously. With 824,300 shares average volume, it will take short sellers 2 days to cover their INNT’s short positions. The short interest to Innovate Biopharmaceuticals Inc’s float is 13.1%.

It closed at $1.1 lastly. It is down 80.84% since September 13, 2018 and is downtrending. It has underperformed by 80.84% the S&P500.

Innovate Biopharmaceuticals, Inc., a clinical stage biotechnology company, focuses on developing autoimmune and inflammation therapeutics. The company has market cap of $37.16 million. The Company’s late-stage clinical pipeline focuses on addressing unmet needs in diseases, such as celiac disease, inflammatory bowel disease , and nonalcoholic steatohepatitis (NASH). It currently has negative earnings. The company's lead drug candidate, larazotide acetate (INN-202), has successfully met its primary endpoint in a Phase 2b efficacy clinical trial for celiac disease.

More notable recent Innovate Biopharmaceuticals, Inc. (NASDAQ:INNT) news were published by: Seekingalpha.com which released: “Key events next week – healthcare – Seeking Alpha” on December 14, 2018, also Globenewswire.com with their article: “Innovate Biopharma Announces Analyst Event on Monday, May 20, 2019, in San Diego – GlobeNewswire” published on May 09, 2019, Globenewswire.com published: “Innovate Biopharmaceuticals Announces Acceptance of Three Abstracts Focusing on the Molecular Biology and Pharmacology of Larazotide for the 2019 Digestive Disease Week Conference – GlobeNewswire” on February 25, 2019. More interesting news about Innovate Biopharmaceuticals, Inc. (NASDAQ:INNT) were released by: Seekingalpha.com and their article: “Innovate Biopharmaceuticals (INNT) Presnts At Conference Call to Provide Corporate and Operational Updates – Slideshow – Seeking Alpha” published on March 04, 2019 as well as Globenewswire.com‘s news article titled: “Innovate Biopharmaceuticals Announces Closing of $8.7 Million Registered Direct Offering – GlobeNewswire” with publication date: May 01, 2019.

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