Axcella Health Inc. (AXLA) stock prices were down 0.83% as of the market closing on July 29th, 2021, bringing the price per share down to USD$3.60. subsequent premarket fluctuations saw the stock fall by 5.56%, bringing it down to USD$3.40.
AXA1665 Clinical Trial
The second quarter of fiscal 2021 saw AXLA stock initiate its EMMPOWER Phase 2 clinical trial, a global 24-week, randomized, double-blind, placebo-controlled trial. The study is designed to evaluate the efficacy and safety of AXA1665 in almost 150 patients. Patients enrolled reported having experienced at least one prior OHE event and have neurocognitive dysfunction at screening.
AXA1125 Clinical Trial
April 2021 saw the U.S Food and Drug Administration cleared AXLA stock’s Investigational New Drug application for AXA1125. Shortly after, the company initiated its EMMPACT Phase 2b clinical trial. The trial spanned 48 week in a randomized, double-blind, placebo-controlled trial, which is designed to evaluate the efficacy and safety of AXA1125. Roughly 270 patients who had biopsy-confirmed F2/F3 NASH were enrolled in the study.
AXLA Stock’s Liquidity Position
AXLA stock reported a solid liquidity position as of June 30th 2021, with USD$78.9 million in cash, cash equivalents, and marketable securities. This is comparable to the USD$107.3 million reported as of December 31st 2021. The company forecasts that its existing cash balance will be enough to see company operations through to the third quarter of 2022.
Net Loss Reports
Net loss for the quarter came in at USD$15.9 million, representing a net loss of USD$0.42 per basic and diluted share. This is comparable to the USD$13.9 million net loss reported for the prior-year quarter, representing a net loss of USD$0.48 per basic and diluted share. AXLA stock reported a net loss in the amount of USDS$31.1 million for the first half of fiscal 2021, representing a net loss of USD$0.83 per basic and diluted share. This is comparable to the USD$28.9 million net loss reported for the first six-month period of 2020, coming out to a net loss of USD$1.10 per basic and diluted share.
Future Outlook for AXLA Stock
Armed with successful developments of its proprietary clinical trials and the comfort of its balance sheet, AXLA stock is poised to capitalize on its momentum moving forward. The company is keen to spearhead the completion of its clinical trials and the eventual commercialization of its products. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
