Shares of Israel-based pharmaceutical company PainReform (NASDAQ: PRFX) jumped nearly 130% on Tuesday after its renewable energy arm, DeepSolar, was accepted into the Nvidia (NASDAQ: NVDA) Connect Program.
By press time, the stock was trading at $3.06, up 127%, though it remains down more than 20% year-to-date.
Through the Nvidia program, DeepSolar will gain access to advanced AI frameworks, development tools, and engineering support to further develop DeepSolar Predict, its solar forecasting solution for photovoltaic systems.
The platform is designed to boost weather forecast accuracy by up to 50%, helping solar asset owners reduce imbalance penalties, optimize energy sales, and improve grid stability.
PainReform said the current version of its platform has already demonstrated the ability to increase energy production and cut operating and maintenance costs by as much as 30%.
PainReform struggles
Despite Tuesday’s surge, PainReform shares have lost more than 80% over the past year. The company, which combines pharmaceutical development for post-surgical pain relief with AI-driven renewable energy optimization, has struggled in recent months.
The Nvidia partnership comes alongside an expansion into biotechnology through a majority stake acquisition in Boston-based LayerBio.
Notably, the deal supports the development of OcuRing-K, a drug delivery system for managing pain and inflammation after cataract surgery. The investment could reach $3 million, with $600,000 already committed and the rest contingent on development milestones.
Featured image via Shutterstock
Source: https://finbold.com/nvidia-enrollment-sends-this-stock-soaring-130/
