Categories Earnings, Health Care

Earnings preview: Advaxis stock treading near an all-time low ahead of Q2 results

Late-stage biotech firm Advaxis, Inc. (NASDAQ: ADXS) is scheduled to report second-quarter financial results on June 10, Monday, after the closing bell. Analysts expect the company to report a loss of $1.20 per share, on revenues of $0.17 million.

During the same quarter last year, the biotech firm had reported a wider loss of $4.05 per share, on higher earnings of $1.75 million.  In the past four quarters, Advaxis has twice missed earnings estimates.

pharma stocks
(Image Courtesy: Louis Reed/Unsplash)

As the company does not have any commercial products yet, it does not have any significant product revenues. The clinical trials and drug development costs are funded through various public and private offerings of its common stock, clinical collaborations, option and warrant exercises, and interest income.

The company, which focuses on discovery, development, and commercialization of immunotherapy products, has seen its stock plunge almost 90% over the past 52 weeks. The stock has declined 43% in the year-to-date period.

READ: What is NASH and which biotech companies are vying for its first-mover status

Much of this decline was contributed by the company’s decision to go ahead with a one-for-fifteen reverse stock split of its common stock in March, a move intended at maintaining stock value.

Announcement of the reverse stock split had sent the stock tumbling 20% on March 28. The move slashed the number of shares outstanding to just about 5.5 million from 82.6 million.

The stock price plunging at a rapid pace is of significant risk to the company as it represents a good amount of its financial funding.

Meanwhile, analysts are quite bullish about the stock, which has a 12-month average price target of $5.15, suggesting a 107% upside from the last close.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Infographic: Square (SQ) Q4 earnings, revenue beat Street view

Payment solutions provider Square, Inc. (NYSE: SQ) Tuesday reported strong increase in fourth-quarter revenues and earnings. The results also topped the Street view. Fourth-quarter adjusted earnings moved up to $0.32

Key highlights from Intuit (INTU) Q2 2021 earnings results

Intuit Inc. (NASDAQ: INTU) reported second quarter 2021 earnings results today. Total revenue fell 7% year-over-year to $1.6 billion. Net income was $20 million, or $0.07 per share, compared to

Bitcoin is finding favor with major companies but is the risk worth it?

Bitcoin is hot news right now. The virtual currency has always been a topic of debate but since the start of 2021, it has been gaining popularity among analysts and

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top