On February 25, Salaruis Pharmaceuticals Inc. (SLRX) stock’s bullish momentum escalated in the after-hours as it added a further 10.03%. It seems investors are buying the stock due to its price’s downfall recently.
During the regular session, the stock added 3.33% at its closing price of $0.3999 per share. The stock traded at a mild volume of just 18% of its 65-day average at 67.08K shares during the regular trading session. Still being quite near the recent 52-week low of $0.3507, SLRX stock continued gaining in the after-hours but with increased momentum. The stock reached a value of $0.4400 in the after-hours on Friday as it added a further $0.04 or 10.03%.
The clinical-stage oncology company, Salaruis Pharmaceuticals Inc. has a market capitalization of $18.08 million. Currently, the company has 45.21 million shares outstanding in the market.
What is Happening with SLRX?
As most of the stock plunged down to new lows in recent days, SLRX also reached its 52-week low of $0.3510 on Thursday. The stock closed the session just above the new low at $0.3870. Thus, leading the way for investors to buy the stock in order to take advantage of the low price. Therefore, the stock entered an uptrend in the following sessions on Friday. While the regular trading saw a mild volume with a normal gain, things changed in the after-hours session as it gained momentum.
The overall analysis of the stock movement shows a loss of 6.91% in the past five days alone. While the stock stands at a year-to-date loss of 19.31% it subtracted a value of 77.78% last year.
Company News
On February 24, the company’s CEO, David Arthur presented at the Diamond Equity Research Emerging Growth Invitational 2022 Virtual Conference.
On February 22, the company filed a report on Form S-8, Securities to be offered to employees in employee benefit plans.
Before that, SLRX’s CEO also presented at the 2022 BIO CEO & Investor Conference which took place from February 14 to 17, 2022.
SLRX’s Financial Highlights
In the third quarter of 2021, the company had a net loss of $3.7 million, against $1.7 mullion in the year-ago period. Resultantly, the net loss per basic and diluted share was $0.08 and $0.10 in Q3 of 2021 and 2020, respectively.
Furthermore, as of September 30, 2021, the total working capital of the company was $33.6 million.
