Shares of Israeli medical device maker Alpha Tau (DRTS) slid 11% on Friday after rallying 25% the previous day on news that it had received two licenses that would enable it to expand production.
Alpha Tau shares opened at $11.75, recently changing hands at $11.09, down 11%, at approximately 3:20 p.m. ET.
On Thursday, Alpha Tau announced that it had received a new radioactive license for its manufacturing facility in Jerusalem and an expanded radioactive license for its site in Lawrence, Mass.
Shares of Alpha Tau shot up 25% on Thursday to close at $12.41.
Based in Israel, Alpha Tau has developed an alpha radiation therapy device called Alpha DaRT for the treatment of solid tumors. The company went public in late February through a merger with SPAC Healthcare Capital that valued the combined company at a pro forma equity value of $1B.