NLS Pharmaceutics Stock Rises 29% Following Merger Announcement With Kadimastem

(RTTNews) - NLS Pharmaceutics AG's (NLSP) stock saw a notable increase of 29.79 percent, during Friday morning trading. This surge follows the announcement for the company a merger with Kadimastem Ltd.

Currently NLSP is trading at $2.45, up 29.79 percent or $0.475 on the Nasdaq. The stock reached a high of $3.37 and traded within a range of $2.38 to $3.37 throughout the day. Although volume information for the day remains unavailable, the average trading volume is around 1.22 million shares.

The merger, which was approved by Kadimastem's shareholders in a special general meeting held yesterday, will bring together NLS Pharmaceutics, a Swiss clinical-stage biopharmaceutical company, and Kadimastem, a clinical-stage cell therapy company.

The completion of the merger is expected to create a combined Nasdaq-traded biotechnology company with a promising portfolio of therapies targeting both neurodegenerative diseases and diabetes.