Is It Time to Review Stock News? PLx Pharma Inc. (NASDAQ: PLXP)

On 18 May 2020, PLx Pharma Inc. stock identified change of 55.00% away from 52-week low price and recently located move of -62.35% off 52-week high price. PLXP stock has been recorded -1.34% away from 50 day moving average and -38.01% away from 200 day moving average. Moving closer, we can see that shares have been trading 5.40% off 20-day moving average.

PLx Pharma Inc. (PLXP) reported recently certain financial and operational results for the three months and full year ended December 31, 2019, and provided a regulatory update on VAZALORE.

Fourth Quarter 2019 Financial Results

The Company recognized revenue of about $24,000 for the fourth quarter of 2019 contrast to $0.3M for the fourth quarter of 2018. All the revenue recognized is attributable to work performed under an award of a National Institutes of Health grant, which is nearing completion.

Research and development expenses were about $0.9M for the fourth quarter of 2019, roughly flat contrast to the fourth quarter of 2018. The expenses in both periods include continued development and manufacturing activities for VAZALORE.

General and administrative expense totaled $2.8M for the fourth quarter of 2019, contrast to $1.9M for the fourth quarter of 2018. This increase is Because of commercial-related activities to support the upcoming launch of VAZALORE, as well as a non-cash increase in stock-based compensation of $0.2M.

Other income (expense), net was down $3.7M to $1.8M of net other income for the fourth quarter of 2019, primarily attributable to $3.8M of lower non-cash income from the change in fair value of the warrant liability primarily Because of the fluctuation of the Company’s ordinary stock price.

Net loss attributable to ordinary stockholders for the fourth quarter of 2019 was $2.3M, or ($0.25) per basic and diluted share, contrast to net income of $2.9M, or $0.34 per share, for the fourth quarter of 2018. The fourth quarter of 2019 includes a non-cash gain of $1.9M, or $0.20 per share contrast to a gain of $5.7M, or $0.65 per share in the fourth quarter of 2018, related to the change in warrant liability. The fourth quarter of 2019 also included $0.3M, or ($0.03) per share, for preferred stock dividends related to the $15M Series A convertible preferred stock financing completed in February 2019.

Full Year 2019 Financial Results

For the year ended December 31, 2019, total revenues were about $0.6M, contrast to $0.8M for the year ended December 31, 2018. All the revenue recognized is attributable to work performed under an award of a National Institutes of Health grant, which is nearing completion.

Research and development expense increased to $4.7M for the year ended December 31, 2019, contrast to $3.9M in the previous year, reflecting continued product development and manufacturing activities for VAZALORE. This increase was Because of the manufacture, packaging, stability and analytical costs related to the registration batches, which provide data to be submitted in the Company’s sNDA filings.

General and administrative expense increased to $10.0M for the year ended December 31, 2019 contrast to about $7.8M in the previous year. This increase is Because of commercial-related activities to support the upcoming launch of $1.9M and payments to the University of Texas associated with the patent license contract of $0.3M.

Other income (expense), net was $6.3M of net other expense for the year ended December 31, 2019, contrast to $11.9M of net other income in the previous year. This change is primarily attributable to the non-cash change in fair value of warrant liability primarily Because of the fluctuation of the price of the Company’s ordinary stock ($5.7M of other expense for the year ended December 31, 2019, as contrast to $12.7M of other income in the previous year).

Net loss attributable to ordinary stockholders for the year ended December 31, 2019 was $34.3M or ($3.84) per basic and diluted share contrast to net income of $0.9M, or $0.10 per share for the previous year. Full year 2019 included $13.7M or ($1.54) per share, for the beneficial conversion feature and preferred stock dividends related to the $15M Series A convertible preferred stock financing completed in February 2019. Full year 2019 also included a non-cash charge of $5.7M, or ($0.64) per share as a result of a change in the fair value of the warrant liability as contrast to income of $12.7M or $1.45 per share in the previous year.

The Healthcare sector company, PLx Pharma Inc. noticed change of 7.31% to $2.79 along volume of 26031 shares in recent session compared to an average volume of 11.91K. PLXP’s shares are at -49.81% for the quarter and driving a -52.73% return over the course of the past year and is now at -40.50% since this point in 2018.   The average volatility for the week at 20.63% and for month was at 11.27%. There are 9.08M shares outstanding and 8.95M shares are floated in market.

 

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