The stock of Zosano Pharma Corporation (ZSAN) ended the recent trading session at $0.16, gaining 31.62% from the previous session. During the last check, the stock of ZSAN lost 7.47% in the after-market, to $0.15. Recently, ZSAN’s petition for Zolmitriptan micro-needle was declined by the Food and Drug Administration. The company also filed the form DEF 14A with the SEC, on 25 February 2022.
Zosano Pharma Corporation (ZSAN) is a clinical-stage pharmaceutical organization. ZSAN works around giving fundamental dispensing of medicine to patients utilizing its ransdermal micro-needle framework. Zosano accelerates drug integration into the blood circulatory system. The company has a market capitalization of $28.55 million, with 169.36 million of the pending shares. ZSAN has its base in Fremont, California, United States of America (USA).
ZSAN’s News
Recently, FDA declined the company’s petition for the Zolmitriptan microneedle system. A feedback report was disseminated to Zosano concerning the submission of 505(b)(2) medicine for M207. The reaction report expressed that the FDA didn’t ponder on the resubmitted application of M207. They will not start a meaningful audit of the application until they acquire a total reaction. Moreover, the company’s plan for laying out Zomig Nasal Spray 5 mg study was not satisfactory. ZSAN is assessing the subsequent stages. Notwithstanding, there can be no confirmations that the company will empower to keep chasing after FDA endorsement for M207.
Moreover, on 8 February 2022, Zosano declared the pricing of its previous underwritten public offering. The offering included 51.2 million stocks, with one common share and one warrant, at a price of $0.30 for each stock. The warrants were exercisable immediately and had an expiry date of five years after the date of issue, with a price of $0.30 per stock. The aggregate profit for this offering was $15.4 million, prior to deducting guaranteeing limits and commissions.
Further, the analysts at BTIG firm downgraded the stock rating of ZSAN from buy to neutral on 23 February 2022.
