---
title: "Why Is Phoenix Asia Stock (PHOE) Up Today?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285787548.md"
description: "Phoenix Asia (PHOE) stock surged 85.2% on Friday, following a volatile week influenced by several announcements, including a significant stock exchange agreement with ACEA Pharma. Phoenix Asia will acquire 100% of ACEA Pharma for 100 million newly issued shares, valued at $1 billion. Post-deal, Phoenix Asia will be renamed ACEA Pharma, with ACEA Thera owning 82% of the new entity, which is expected to be listed on Nasdaq. The deal is anticipated to close by Q2 2026 and has unanimous board support."
datetime: "2026-05-09T01:06:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285787548.md)
  - [en](https://longbridge.com/en/news/285787548.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285787548.md)
---

# Why Is Phoenix Asia Stock (PHOE) Up Today?

Phoenix Asia (PHOE) stock rocketed higher on Friday as the shares continued to be volatile this week. This volatility comes from several announcements made throughout the week. Among them was a stock exchange agreement with ACEA Pharma.

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Phoenix Asia has agreed to acquire 100% of the issued and outstanding equity interests of ACEA Pharma in exchange for 100,000,000 newly issued PHOE shares that will be awarded to ACEA Pharma. These PHOE shares will be valued at $10 each, bringing the total of the deal to $1 billion. This stock exchange will also bring a major change to Phoenix Asia.

Once the deal between Phoenix Asia and ACEA Pharma is complete, Phoenix Asia will be renamed ACEA Pharma. ACEA Thera will also own 82% of the new company. Additionally, the new company's common stock is expected to be listed on the Nasdaq. The deal is set to close by the end of Q2 2026 and has the unanimous support of the boards of both companies.

## **Phoenix Asia Stock Movement Today**

Phoenix Asia stock was up 85.2% on Friday, following a 33.36% fall yesterday. The stock has also gained 19.12% year-to-date and 495.81% over the past 12 months.

PHOE stock trading activity today was elevated, as some 783,000 shares changed hands, compared to a three-month average daily trading volume of about 16,000 shares.

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