Clinuvel Pharmaceuticals (OTCMKTS:CLVLY) Shares Down 1.1% – Here’s Why

Clinuvel Pharmaceuticals Limited (OTCMKTS:CLVLY) traded down 1.1% during mid-day trading on Wednesday . The company traded as low as $8.40 and last traded at $8.40. 300 shares changed hands during trading, a decline of 95% from the average session volume of 5,529 shares. The stock had previously closed at $8.49.

Clinuvel Pharmaceuticals Price Performance

The stock has a 50 day moving average of $7.91 and a 200 day moving average of $7.71.

Clinuvel Pharmaceuticals Company Profile

Clinuvel Pharmaceuticals Limited is an Australian biopharmaceutical company headquartered in Melbourne, specializing in the development and commercialisation of photoprotective and phototherapeutic solutions. The company’s research centers on harnessing the skin’s natural photoprotective pathways by modulating the melanocortin system, with a view to addressing a range of skin disorders and conditions that are exacerbated by ultraviolet light exposure.

The company’s flagship product, Scenesse (afamelanotide), is the first systemic photoprotective drug approved by both the European Medicines Agency and the U.S.