Business
Why the Allegra (ASX:AMT) share price is rocketing 20% higher today
The Allegra Orthopaedics Ltd (ASX: AMT) share price is surging today as investors are fighting to snap up its shares. This comes after the company announced an update on its flagship innovation project, the Sr–HT–Gahnite Spinal Cage Device (Spinal Cage).
During morning trade, the Allegra share price reached as high as 46.5 cents. However, after some profit taking, the company’s shares have settled back to 37.5 cents at the time of writing, up 20.9%.
What did Allegra announce today?
Allegra advised that it conducted additional testing on its Spinal Cage, following earlier test results disclosed on 4 December. The additional round involved dynamic torsion and dynamic compression shear tests designed to examine the Spinal…
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