During afterhours trading on Friday, Myovant Sciences Ltd. (MYOV) was down -5.60% to trade at $19.37. MYOV stock rose 2.70% to close the day at $20.52 on Friday. There was a volume of 0.51 million in MYOV stock traded, which is lower than the average volume over the last three months, which is 783.82K. A range of $19.75 to $20.59 was seen in MYOV’s stock price during the trading session.
MYOV had -3.13 earnings per share ratio. During the past five sessions, MYOV stock has lost -1.72%, and over the past month, it has lost -9.88%, but on an annual basis, it has lost -25.71%. The 50-day moving average of MYOV’s stock is $21.88 and the 200-day moving average is $21.29. Additionally, the RSI of MYOV is 47.94. In extended trades, MYOV stock fell as investors took profits on gains from regular session following the quarter’s results.
This quarter, how did MYOV Stock perform?
Myovant Sciences mission is to create purpose-driven science, enable empowering medicines, and expand advocacy that redefines care for women and for men. MYOV was founded in 2016 and has two FDA-approved products. In 2020, the US Food and Drug Administration approved MYOV’s oral gonadotropin-releasing hormone (GnRH) receptor antagonist ORGOVYX (relugolix) for the treatment of adults with advanced prostate cancer, and it is also under review in Europe for these patients. MYOV is also advancing MVT-602, an oligopeptide kisspeptin-1 receptor agonist that has completed a Phase 2a study for female infertility connected to assisted reproduction.
Myovant Sciences announced its financial results and corporate updates for the first quarter of fiscal year 2021 last week.
Financial Highlights:
- Revenues for MYOV for the three months ended June 30, 2021 and 2020 totaled $41.1 million and $33.3 million, respectively.
- ORGOVYX and MYFEMBREE contributed $10.5 million and $1.1 million, respectively, to MYOV’s product revenue for the three months ended June 30, 2021.
- Revenues from the Pfizer collaboration for the three months ended June 30, 2021 were $29.5 million, reflecting both the upfront payment MYOV received from Pfizer in December 2020 and the regulatory milestone payment MYFEMBREE received after FDA approval.
- For the three months ended June 30, 2021, the net loss was $61.7 million, compared to $32.9 million for the comparable period a year earlier.
- Using the common share price as a measure of its profitability, MYOV lost $0.67 per share in 2021 compared to $0.37 per share in 2020.
Milestone payment MYOV has received:
According to the most recent information available to Myovant (MYOV) as of June 30, 2021, it had $611.1 million in cash and cash equivalents, marketable securities, and loan repayment options. Pfizer paid MYOV an amount of $100.0 million as a milestone payment in July 2021 and Richter expects to pay Myovant $15.0 million in the second quarter of fiscal 2021.
