On February 01, ObsEva SA (OBSV) declared the appointment of Katja Buhrer as its Chief Strategy Officer and member of the Executive committee. Consequently, the stock surged in the premarket on Tuesday.
In the previous trading session, the stock fluctuated between a high of $1.58 and a low of $1.44. OBSV closed the session at $1.53, suffering a loss of 2.55% at 1.23 million shares. Following the announcement, the stock had increased by 22.88% at a volume of 1.4 million in the premarket. Therefore, at the time of writing OBSV stock was trading at $1.88 pre-share premarket, on Tuesday.
The clinical-stage biopharma, ObsEva SA specializes in the R&D of women’s health treatments. Currently, its 85.22 million outstanding shares trade at a market capitalization of $133.8 million. In the past five days, OBSV has increased by 3.38% while it has lost 23.12% year-to-date. Moreover, the stock subtracted a huge 58.76% last year.
OBSV’s CSO Katja Buhrer
OBSV’s new Chief Strategy Officer, Ms. Buhrer has vast experience in corporate strategy, investor relations advisory, financial journalism, and capital markets.
Previously, she served at Kindred Biosciences as its VP Corporate Development, Investor Relations, and Chief of Staff. Following the acquisition of Kindred Bio, she became the Chief Operating Officer of KindredBio, a subsidiary of Elanco.
Before that, Ms. Buhrer has also served at MBS Value Partners, The Australian Financial Review and Citigroup, etc.
Corporate Updates
On January 29, the company announced the approval of increasing its share capital by its board of directors on January 28, 2022. Hence, through issuing 23,400,000 newly registered shares, OBSV has increased its share capital from 85,220,471 TO 108,620,471 shares. Furthermore, the price of the newly registered shares is 1/13 of a Swiss Franc each.
Further, the 23,400,000 new shares would list on the SIX Swiss Exchange on or around February 15, 2022.
In addition, the company also amended its convertible note financing agreement on January 28, 2022. The financing agreement is structured for providing up to $135 million in borrowing capacity to the company.
OBSV’s Financial Highlights
In the third quarter of 2021, the company generated a net income of $0.8 million, against a net loss of $24.4 million in the year-ago period. Resultantly, the company had a net income of $0.01 per share against a net loss of $0.49 per share in Q3 of 2021 and 2020, respectively.
Additionally, OBSV ended the quarter with cash and cash equivalents of $62.9 million.
