Shares of the VBI Vaccines Inc. (VBIV) stock were rising in the premarket today on December 1, 2021. VBIV stock price saw an uptrend of 15.78% to reach $3.52 a share at the time of this writing. The stock was also green in the previous trade and went up by 7.42% at closing. Let’s dig in to understand the reason behind this fall.
What’s Happening?
There seems to be no major news behind the rising per share price of the VBI Vaccines in today’s date. No analyst has upgraded or increased the per-share price of the VBIV stock in recent times. It seems that investors’ sentiment is positive in the social media platforms like Reddit, Stock Twits, etc. due to which this stock is going high today. For your intuition, let’s discuss what really VBIV stock is and its recent events.
VBI Vaccines Inc. is the biopharmaceutical stock that is engaged in the development and selling of vaccines to treat infectious diseases and immuno-oncology. The company has a current market value of $782.20 million and a 2,103,098 average trading volume.
Q3,2021 Financial Results of VBIV stock:
In the first week of November 2021, VBIV stock did announce third-quarter 2021 financial results according to which
- The company generated $0.1 million in revenue in the reported quarter as compared to $0.3 million in the same quarter of last year.
- The cost of revenues was $2.5 million in the third quarter of 2021. This compares to the $2.1 million costs of revenues in the same prior-year period.
- VBIV stock spent $3.0 million in research and development expenses in the reported quarter. In the same quarter of the previous year, these expenses were $4.5 million.
- General and administrative expenses of the VBIV stock were $9.7 million in the reported quarter. These were $5.6 million in the same tenure of the previous year.
- VBIV stock suffered a net loss of $15.8 million in the third quarter of 2021. This compares to a $13.0 million net loss in the same period of the previous year.
- In the first nine months of 2021, VBI stock used $21.4 million in net cash for operating activities. The company used $1.4 million cash for the purchase of property and equipment.
- By the end of the third quarter, VBI stock had $137.5 million in cash, cash equivalents, and short-term investments.
Wrap Up:
So far so good for VBIV stock as far as market sentiment is concerned. The stock at one time began to decline in the premarket but then again got the rising momentum.
