AzurRx BioPharma Inc. (AZRX) stock declined 16.03% in after-hours on Thursday, July 22, 2021. The stock closed at $0.59 per share. Before that in the morning session, the share price of the Company lost 4.27% to close Thursday’s session at $0.71. AZRX stock has fallen 38.42% over the last 12 months, and they have moved down 0.06% in the past week. Over the past three months, the stock has lost 15.29%, while over the past six months, it has slid down 42.89%.
Let’s see is there any recent development behind its plummeting on Thursday?
AZRX stock expanding the previously announced public offering
On July 22, 2021, AzurRx BioPharma, Inc announced that the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 9,090,910 shares of common stock of the Company, at a price to the public of $0.55 per share, due to high demand. The offer will close on July 27, 2021, subject to satisfaction of customary closing conditions.
Participation in the recent conferences
- The Chief Executive Officer of AzurRx, James Sapirstein recently presented the company at the 2021 BIO Digital virtual conference which took place on June 10-11 and June 14-18, 2021.
- The company also participated in the Rocky Mountain Microcap conference which was held on May 26, 2021.MrSapirstein provided an overview of AzurRx’s business and clinical development programs and discussed anticipated 2021 and early 2022 milestones in the conference.
First Patient dosed in Phase 2 Clinical Trial of Niclosamide
On June 07, 2021, AzurRx BioPharma, Inc administered the first dose of FW-1022 to a volunteer in the ongoing Phase 2 RESERVOIR clinical trial. FW-1022 is a proprietary oral tablet formulation of micronized niclosamide developed for the treatment of COVID-19-related GI infections. Topline results from the trial are expected in the first quarter of 2022.
AZRX stock revealed positive interim data from the phase 2 trial of MS1819
On May 13, 2021, AZRX stock announced positive interim data from the first 18 out of 20 patients in its Phase 2 trial evaluating MS1819 in combination with the current standard of care, porcine-derived pancreatic enzyme replacement therapy (PERT), for the treatment of severe exocrine pancreatic insufficiency (EPI) in patients with cystic fibrosis (CF).
The interim data showed that the combination therapy led to clinically meaningful improvements in the primary efficacy endpoint, the Coefficient of Fat Absorption (CFA), with an average gain of 5.9 points from baseline.
French Research Tax Credit
On May 12, 2021, AzurRx SAS, which is a wholly-owned subsidiary of AzurRx BioPharma in France, received approximately 459,000 Euros ($550,000 U.S.) in non-dilutive funding in research tax credits from the French government for its 2020 CIR (French Research Tax Credit).
The AZRX stock plummeted after the company announced to increase in the size of its previously announced public offering. we are not sure how the stock market will react on Friday for AZRX.