PhaseBio Pharmaceuticals Inc. (PHAS) went up by 3.68% in the aftermarket, at $1.9699 against its last close at $1.9000 on December 01. During the previous trading session, the stock lost 8.65% or $0.18 at a volume of 1.3 million shares. The stock saw a range of $1.8707 to $2.1300 in Wednesday’s session. While in the 52-week range it went as high as $5.8299 and as low as $1.8707 at an average volume of 622.15K (65-day). Moreover, the stock has lost a value of 19.83% in the past five days and 50.26% in the past month. The year-to-date loss for the stock stands at 43.45% and 52.26% decrease in the past year. Currently, PHAS trades at a market capital of $100.03 million with its 48.09 million shares outstanding.
The stock began to rise in the after-hours, following the company’s announcement of the publication of its study results.
PhaseBio Pharmaceuticals Inc. (PHAS) is a clinical-stage company that focuses on the development and commercialization of novel therapies for cardiopulmonary diseases.
Publication of PHAS Study Results
On December 01, the company announced the publication of interim results from its REVERSE-IT trial in the New England Journal of Medicine Evidence. REVERSE-IT or the Rapid and Sustained Reversal of Ticagrelor-Intervention Trial is PHAS’ ongoing Phase-3 trial of its product bentracimab. The trial is designed for studying the reversal of antiplatelet effects of ticagrelor in patients. Previously the results of the trial were presented at the 2021 American Heart Association Scientific Sessions on November 15. According to this, bentracimab showed a remarkably safe profile with no drug-related adverse events and a low thrombotic event rate.
NEJM Evidence is a leading peer-reviewed new scientific digital journal from the New England Journal of Medicine Group. The publication of the positive interim results of the study in such a renowned journal is a big step for PHAS.
Financial Highlights
On November 10, PhaseBio Pharmaceuticals Inc. (PHAS) reported its financial results for the third quarter of 2021. As per the third quarter of 2021, the sublicense revenue was $0.3 million.
Moreover, the net loss was $31.9 million in Q3 of 2021, against $25.1 million for the year-ago period. Consequently, the net loss per basic and diluted share was $0.66 for the third quarter of 2021. While the same was $0.86 per share in the third quarter of 2020.
In addition, PHAS had cash and cash equivalents of $56.4 million on September 30, 2021.
