Satsuma Pharmaceuticals Inc. (STSA) shares surged 17.78% in the after-hours on Wednesday, June 16, 2021, and close the session at $5.83 per share. Earlier in the morning session, STSA shares gained 0.61% to close Wednesday’s morning session at $4.95 per share.
STSA shares have fallen 82.69% over the last 12 months, and they have moved down 5.71% in the past week. Over the past three months, the stock has lost 24.54%, while over the past six months, it has added 2.27%.
Let’s see what’s going on with STSA?
Positive results on Phase 1 Trial of STS101 at Multiple Dose Strengths
On June 16, 2021, Satsuma Pharmaceuticals, Inc. announced positive pharmacokinetic, tolerability, and safety results from a Phase 1 trial of STS101. The data demonstrated that all three dose strengths (5.2 mg and two higher dose strengths) administered with Satsuma’s improved second-generation nasal delivery device were well-tolerated and achieved the target pharmacokinetic profile.
Recent financial results
On May 11, 2021, Satsuma Pharmaceuticals, Inc released its financial results for the first quarter of 2021.
Q1 2021 financial highlights
- Satsuma Pharmaceuticals reported a net loss of $10.5 million, or $0.48 per common share for the first quarter of 2021compared to a net loss of $11.8 million, or $0.68 per common share, for the same period in 2020.
- Research and development expenses were $7.2 million for Q1 2021, compared to $9.6 million for Q1 2020.
- General and administrative expenses were $3.3 million for the first quarter of 2021, compared to $2.5 million for Q1 2020.
- Satsuma Pharmaceuticals had $133.1 million of cash, cash equivalents, and marketable securities on March 31, 2021.
Q4 and FY 2020 financial results announcement
On March 25, 2021, Satsuma Pharmaceuticals, Inc announced its financial results for the quarter and the full year ended December 31, 2020.
Q4 2020 financial highlights
- Satsuma Pharmaceuticals reported a net loss of $12.5 million or $0.72per common share for Q4 2020 compared to a net loss of $10.8 million or $0.62per common share for Q4 2019.
- Research and development expenses were $9.0 million for the fourth quarter of 2020 compared to $9.2 million for Q4 2019.
- General and administrative expenses were $3.4 million for the fourth quarter of 2020 compared to $2.1 million for Q4 2019.
FY 2020 financial highlights
- Satsuma Pharmaceuticals reported a net loss of $47.6 million or $2.73 per common share for FY 2020 compared to a net loss of $28.2 million or $4.80 per common share for FY 2019.
- Research and development expenses were $36.3 million for the full year 2020compared to $24.2 million for FY 2019.
- General and administrative expenses were $12.1 million for full-year 2020 compared to $4.7 million for FY 2019.
- The Company had $68.2 million of cash, cash equivalents, and marketable securities on December 31, 2020.
Conclusion
The STSA stock performed well on Wednesday after the company announced the positive results which we have discussed above. STSA can continue its positive momentum in the remaining days of the current week.
