Check-Cap Ltd. (CHEK) is a late-clinical stage company redefining the screening of colorectal cancer via the introduction of C-Scan. It is the pioneer screening test for the detection of polyps long before they transform into CRC. Its capsule-based screening technology significantly increases screening devotion globally. C-Scan uses an X-ray capsule of ultra-low-dose along with exclusive software for the generation of a 3D map of the internal colon lining.
The price of CHEK stock during the early trading on March 1, 2022, was last checked to be $0.41 with a fall of 32.58%.
CHEK: Events and Happenings
On March 1, 2022, CHEK reported its entry into definitive contracts with several investors for the acquisition and sale of 20,000,000 of its ordinary shares and warrants to acquire up to 15,000,000 ordinary shares. Each ordinary share and warrant are sold to acquire 0.75 ordinary shares at a joint offering price of $0.50 per share and warrant. The offering is anticipated to close on March 3, 2022.
On February 7, 2022, CHEK updated on the approval receipt for its altered IDE application by the FDA. The approval enabled the company to start the pivotal study. On December 23, 2021, CHEK was informed about the receipt of notification from the NASDAQ regarding non-compliance with the least bid price obligation for the continued listing to retain a least per share price of $1.00.
On November 22, 2021, CHEK announced the publication of its research in the peer-reviewed Digestive Diseases and Sciences journal. The title of the research is ‘Colorectal cancer and polyp detection using a new preparation-free colon-scan capsule: A pilot study of safety and patient satisfaction.’
CHEK: Key Financials
On November 3, 2021, CHEK released its financial results for the third quarter of 2021 ended September 30, 2021. Some of the main highlights are discussed below.
Revenue
No revenue was recorded in the third quarter of 2021 like in the same quarter of 2020.
EPS
Basic and diluted net loss per share in Q3 2021 was $4.2 million or $0.15 against $3.6 million or $0.40 in the same quarter in 2020. The company observed a rise in its EPS over the year. The company also topped the EPS estimates by $0.01.
Conclusion
CHEK stock is approximately 20% up the last year which showed the devotedness of its team in the pandemic. In Tuesday’s early trading session, the company’s stock sank as a consequence of a registered direct offering announcement. For the fourth quarter of 2021, the company expects an EPS of -$0.04.
