Aeglea BioTherapeutics, Inc. (AGLE) is a clinical-stage biopharmaceutical company engaged in developing human enzyme therapeutics to treat rare metabolic disease patients. One of the lead potential candidates of the company is Pegzilarginase has received RDD and Breakthrough Therapy designations from FDA. AGLE-177 is in Phase 1/2 clinical trials for treating Homocystinuria.
The price of AGLE stock during the early trading on February 10, 2022, was last checked to be $3.5 with a decline of 6.48%.
AGLE: Events and Happenings
On February 9, 2022, AGLE proposed an underwritten public offering to sell its common stock shares and pre-funded warrants for the acquisition of its common stock shares. The company intends to utilize the gross proceeds from the offering to fund its ongoing research projects for the lead candidate pipeline.
On January 25, 2022, AGLE updated about hosting a Key Opinion Leader and Patient Caregiver Webinar on February 3, 2022. On January 5, 2022, AGLE informed about the participation of its Executive management at the following investor conferences.
- 40th Annual J.P. Morgan Health Care Conference on January 10-13, and
- Virtual H.C. Wainwright Bioconnect Conference on January 10-13, 2022.
On December 6, 2021, the company announced its Phase 3 clinical studies of PEACE, which met the primary endpoint. The company reported a statistically significant decrease from baseline in plasma arginine post-24 weeks of treatment.
AGLE: Key Financials
On November 4, 2021, AGLE released its financial results for the third quarter ended September 30, 2021. The main highlights are as follows.
EPS
Basic and diluted net loss per share in Q3 2021 totaled $20.3 or $0.31 million compared to $18.0 million or $0.29 in the same quarter of 2020. The company missed the estimated EPS by $0.02 per share.
Revenue
Revenue in Q3 2021 was recorded to be $1.39 million compared to nil revenue in the same period of 2020. The company missed the estimated revenue target by $1.29 million.
Conclusion
AGLE stock down-performed in the last six months period due to economic restrictions as a result of the pandemic. The company’s stock dipped by 43% in the period. The current early trading stock decline is the result of the company’s announcement of the proposed public offering. The analysts estimate the revenue for the upcoming quarter to be $1.76 million and EPS to be $-$0.31.
