Benzinga | Oct 7, 2020 02:24PM EDT

Why Taiwan Liposome's Stock Is Trading Higher Today

Taiwan Liposome (NASDAQ:TLC) shares are trading higher on Wednesday after the company announced that it received Australian and Taiwan approval to initiate its Phase 1 clinical trial of TLC19 inhalable Liposomal Hydroxychloroquine for coronavirus.

Taiwan Liposome is a biopharmaceutical company focused on the research, development, and commercialization of pharmaceutical products based on its proprietary drug delivery technologies. The company offers products in therapeutic areas, such as oncology, PAD, ophthalmology, fungal infection, arthritis, and anesthetic indications.

Taiwan Liposome shares traded up 32.87% to $5.78 on Wednesday. The stock has a 52-week high of $12.65 and a 52-week low of $2.48.