On January 21, Aridis Pharmaceuticals Inc. (ARDS) stock added a further 21.88% in the after-hours while it already had increased by 20.30% in regular trading. There is no official news behind the uptrend.
During the regular trading session, the stock varied between $1.2502 and $1.6900 to close the session at $1.6000. ARDS continued to gain in the after-hours to reach $1.95 at 836.21K shares.
The targeted immunotherapy developer for life-threatening infections, Aridis Pharmaceuticals Inc. was founded in 2003. Currently, the company has a market capitalization of $22.49 million with 14.05 million outstanding shares.
ARDS stock Movement
The analysis of its overall movement shows huge losses for the stock. Presently, the stock stands at a year-to-date loss of 31.33%. Further, ARDS had decreased by a huge 76.78% last year.
While there is no official news or upcoming events, the stock seems to be gaining on external factors. How long will this gain continue is another question but as of now, the stock is in the much-needed recovery mode.
Recent Developments
On January 19, the company filed an At-the-Market Sales Agreement to its Form-8K with the SEC. According to this, the company has entered the Sales Agreement with Virtue Americas, LLC as a sales agent. Pursuant to this filling, ARDS may sell up to $25.0 million of its common stock shares.
On December 21, the company announced the reactivity of its fully human monoclonal antibody (mAb) cocktail AR-701. AR-701 is broadly reactive against many of the coronaviruses including the Omicron and other Covid-19 variants, SARS, MERS and seasonal human coronavirus.
According to the CEO of ARDS, Vu Truong, Ph.D., the emergence of the omicron variant has left the current vaccines and antibodies less effective. Given the continued mutations in the virus, ARDS has successfully developed AR-701. AR-701 targets a conserved region of the virus that is less vulnerable to mutations and new variants. Furthermore, based on the laboratory data, AR-701 can potentially be a future-proof Covid-19 therapy. So far, AR-701 has shown an unmatched combination of broad reactivity and high efficacy along with its distinct mechanism of action.
In addition, the AR-701 not only demonstrated potent neutralization against SARS-CoV-2 variants but also SARS, MERS, and common cold virus.
ARDS’ Q3 2021
On November 10, the company declared its financial results for the third quarter of 2021, which ended on September 30.
In the third quarter of 2021, Grant Revenue was $0.4 million and License revenue was $0.1 million. Comparatively, there was no grant and license revenue in the year-ago quarter.
Additionally, the net loss was $21.0 million in the third quarter of 2021, against $5.8 million in Q3 of 2020. Resultantly, the net loss per share was $1.94 and $0.65 in Q3 of 2021 and 2020, respectively.
