The shares of the Caladrius Biosciences, Inc. (CLBS) stock were green in today’s premarket trading session on January 5, 2022. CLBS stock price saw a push of 4.85% to reach $1.08 a share at the time of this writing. The stock was also green in the previous trading session and went up by 17.03% at closing. Let’s dig in to understand the reason behind this bull.
What’s Happening?
CLBS stock is hot among the investors following the announcement of participation of the company in the upcoming conferences in January 2022. The company confirmed its participation in various investor and industry events. The social media sentiment is positive as investors are expecting some good news from the CLBS stock in the upcoming days.
For your intuition, Caladrius Biosciences is a clinical-stage pharmaceutical company that develops and commercializes cellular drugs to regenerate damaged tissues. The company was founded in 1980 and its headquarters are located in Basking Ridge, New Jersey. CLBS stock has a current market value of $61.57 million and 470,698 average trading volume.
Corporate Update of CLBS stock
In the third quarter of 2021, Caladrius continued the advancement and optimization of its development programs. The company is evaluating the efficacy and safety profile of its SAKIGAKE-designated product candidate HONEDRA®, intended to treat CLI and Buerger’s disease in Japan. The challenging conditions due to the global pandemic prompted the company to suspend enrollment activities. Caladrius is looking for a possibility to submit the existing data to Japanese Regulatory Authorities under the SAKIGAKE designation.
Caladrius is evaluating the efficacy and safety of XOWNA® in the U.S. Phase 2b study after getting positive data from the Phase 2a study. Initially, the company enrolled the patients according to its plan but then Covid-19 restrictions slowed the enrollment process.
Financial View of CLBS stock
According to the third quarter of 2021 financial results of CLBS stock, the company spent $4.1 million in research and development expenses in the three months ended September 30, 2021. These expenses were $3.0 million in the same tenure of the previous year. General and administrative expenses in the recently reported quarter were $2.8 million as compared to $2.3 million in the same tenure of the previous year. Net loss of the CLBS stock was $6.9 million in the third quarter of 2021. The company ended the quarter with $100.1 million in cash, cash equivalents, and marketable securities.
