Every country has its National Stock Exchange (NSE) in their nation for the electronic buying and selling of stocks, NASDAQ is an American stock exchange founded in 1971 and headquartered in New York. NASDAQ was the world’s first electronic exchange platform where securities were traded speedily and transparently without a physical trading floor. NASDAQ stands for “National Association of Securities Dealers Automated Quotations” and is owned by Nasdaq Inc., a multinational financial service corporation based in America, and has operating bases in 25 markets, one clearinghouse and have central securities depositories both in US and Europe totaling 5 in number. There are approximately 3500 listings in Nasdaq agencies, and NASDAQ: ADRO at https://www.webull.com/quote/nasdaq-adro is one of them.
The scenario of Audro biotech in the global market: –
Adro stands for Aduro BiotechInc. having a market cap of approximately $ 201.03 Million, having its headquarter in California, United States. Aduro Biotech was founded in 2000, having its business directed towards Pharmaceuticals, having a significant focus on the health care sector. Aduro Biotech’s mission and vision align with developing a treatment for challenging diseases, including cancer. To achieve its mission and vision, the company is developing many systems with state-of-the-art technologies to develop immunotherapies that can harness the natural immune system of the body to combat the challenging diseases effectively.
Apart from investing in technologies, Audro also collaborates with the leading subject matter expert and different leading pharmaceuticals and biotechnology to leverage their knowledge, experience, and technology to make new therapies available to patients in a fast and cost-effective manner. One such recent merger was with Vancouver based Chinook Therapeutics, whose primary focus is to develop precision medicines for kidney diseases. Following this significant merger, Aduro Biotech will be renamed as Chinook Therapeutics, and following this, the company would trade in NASDAQ under the ticker symbol “KDNY.” This new company would have roughly around $200 million in cash, cash equivalent, or marketable securities.
Summary
With the recent development related to Covid-19 around the world, Aduro Biotech has announced the plan for corporate restricting with the primary aim to make the organization more responsive to the ever-changing competitive business market and also to reduce its operating cost. Adding to its existing fleet of achievement, the company received a sum of $10 million from its license partner, to be spent on different development activities. The first quarter of 2020 was very encouraging for the company as it recorded a revenue of $14 million as compared to $3.9 million for the same period of 2019. After checking stock news, you can start investing online.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.
