Kaleido Biosciences, Inc. (KLDO) enters a new bullish trend aftermarket to reach $4.55, versus $4.23 at its previous close on November 12. The day range varied between $4.42 and $4.15. At a volume of 96.93K, i.e. 78% of the average volume, the stock saw a change of 0.00% at the market close. The stock finally saw an increase in the after-market, going up by 7.57 at a volume of 6.69K. After being in the downtrend for a long time, except for its very short-lived uptrend following the Q3 earnings, the KLDO stock seems to be in market corrections.
Kaleido Biosciences, Inc. (KLDO) is a clinical-stage healthcare company. KLDO is a unique chemistry-driven approach for targeting the microbiome in order to treat disease and improve human health.
KLDO stock Overview
Kaleido Biosciences, Inc. (KLDO) had been on a downtrend for a good while. Too much-selling pressure made the stock lose as much as 23.6% in September 2021. In addition to the heavy selling converting into buying, the revisions in the Q3 earnings estimate gave the investors a new hope for the stock going up. Soon after the third-quarter financial results were announced on November 1, the stock finally began an uptrend. Alas, the uptrend was very short-lived as the stock began to decline again after a few days. The recent downtrend, or the continuation of the long downtrend with a small break, finally seems to be breaking.
The Third Quarter Financial Results
On November 1, Kaleido Biosciences, Inc. (KLDO) reported its financial results for the quarter ended September 30, 2021. According to the report, KLDO incurred a net loss of $23.1 million for the third quarter of 2021. The net loss per common share was $0.54 against the average consensus estimate of 0.55, showing a surprise of 1.82%. For the third quarter of 2020, the net loss per common share was $0.65. The net loss for the third quarter of 2021 included non-cash stock-based compensation expenses of $2.0 million.
The Research and Development (R&D) expense increased from $15.7 million in Q3 2020 to $17.4 million for the same quarter in 20201. This increase in R&D was due to an increase in the production of material for use in clinical studies.
The company reported cash and cash equivalents of $55.7 million as of September 30, 2021. According to the company, KLDO has a cash runaway into the second quarter of 2022.
