Impel NeuroPharma Inc. (IMPL) shares plunged 5.49% in after-hours on Tuesday, September 07, 2021, and closed the daily trading at $17.39. Even in the regular trading session, IMPL’s stock lost 1.34%. The stock volume was 2.03 million shares on Tuesday. IMPL shares have moved up 6.73% in the past week. Over the past three months, the stock has gained 79.86%. The company has a current market of $409.88 million and its outstanding shares stood at 22.28 million.

Let’s see why did it face negativity on Tuesday?

IMPL proposed a public offering

On September 07, 2021, Impel NeuroPharma, Inc (IMPL) commenced an underwritten public offering of 3,000,000 shares of its common stock. The underwriters will get 30 days window to buy additional 450,000 shares of common stock at the offering price, less underwriting discounts, and commissions.

FDA approval of IMPL TRUDHESA™

On September 03, 2021, Impel NeuroPharma, Inc (IMPL) announced that the U.S. Food and Drug Administration (FDA) approved TRUDHESA™ (dihydroergotamine mesylate) nasal spray for the acute treatment of migraine with or without aura in adults.

IMPL recent financial results announcement

On August 16, 2021, Impel NeuroPharma (IMPL) reported its financial results for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

• Research and development expenses were $6.1 million in Q2 2021 compared to $6.8 million for the second quarter of 2020.
• General and administrative expenses were $8.9 million in Q2 2021 compared to $6.1 million in Q2 2020.
• IMPL suffered a net loss of $15.5 million or net loss per share of $1.10 in Q2 2021, compared to a net loss of $13.1 million or net loss per share of $35.88  in Q2 2020.
• The Company had cash and cash equivalents of $60.9 million on June 30, 2021.

Publication of Phase 3 AIMPLMPL STOP 301 study

On August 09, 2021, Impel NeuroPharma (IMPL) announced that its pivotal Phase 3, open-label study, STOP 301, was published in the August 7, 2021 edition of Headache: The Journal of Head and Face Pain, the official journal of the American Headache Society. TRUDHESA™ (INP104) is dihydroergotamine mesylate (DHE) delivered directly into the vascular-rich upper nasal space using Impel’s proprietary Precision Olfactory Delivery (POD®) technology for the treatment of acute migraine.

IMPL participation in the recent conference

Impel NeuroPharma (IMPL) recently participated at the 2021 Wedbush Pacgrow Virtual Healthcare Conference which was held on Tuesday, August 10, 2021. The company was presented by its CEO, Adrian Adams.

Conclusion

IMPL stock went up on Friday after the FDA approval of TRUDHESA but after the long weekend, it went down due to the proposed public offering by the company. Let’s see how it will perform in the coming trading session on Wednesday?