AgeX leads the market with over 253 million shares being traded as the stock crosses $3 mark since July 2019.
The biotech medical therapeutics firm is leading the market with the highest trading volume. AgeX Therapeutics Inc. (AGE) is up by almost 250% in today’s trading session making the stock reach a 15-month high at $3.82.
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AgeX is continuing to surge as the trading goes on and is running to be the top stock today with almost 253 million trading volume, at the time of press. This whopping spike in AGE comes right after it was disclosed in a regulatory filing that Juvenescence owns a 50% stake in the company.
As we write this at 12:18 P.M. EDT, AGE was trading at $2.98 up by 251%. The shares of AgeX have added more than $2 in its price in today’s trading session. AgeX closed the previous trading session at $0.84 before the stock started to pick the bullish momentum in the premarket and surged above 100%, starting the day at $2.24.
AgeX Stock Gets Driven by 50% Stake Acquisition
In the SEC filing, investors learned that Juvenescence has obtained a 50% stake in AgeX Therapeutics. It was noted that on September 15, 2020, Juvenescence made the transaction making an additional advance of $1 million with AgeX under the new facility.
Following Juvenescence’s transaction, it resulted in the purchase of 588,235 common stock shares of AgeX Therapeutics at a per exercise price of $0.85.
Juvenescence owns a 50% stake which represents 21.2 million common stock shares, among which 16.4 million are being held directly while 150k shares are held through warrants issued in August 2019 under the loan agreement. Whereas, 2.5 million shares from the potential exercise of warrants that were issued in the new facility and the remaining 2.2 million shares that may be issued in conversion to the outstanding amounts under the new facility.
Big-Deal for the Future!
The 50% stake ownership of Juvenescence in AgeX is a big deal and this can certainly be known by the reaction of the investment community in today’s trading. Juvenescence is all about increasing human longevity and sees value in the work that AgeX is doing.
Who knows that Juvenescence may go for complete acquisition of Agex Therapeutics, Inc. (AGE) since it owns 50% of the company. Things seem to be stirring up nicely for Agex and it would be one of the stocks to look at in the coming days.