Shares of CohBar Inc. (CWBR) Plunge Further in the After Hours

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On January 13, shares of the mitochondria-based therapeutics developer, CohBar Inc. (CWBR) plunged further in the after market.

In the regular session, CWBR stock traded between a high of $0.3989 and a low of $0.3660 at 768.08K shares. The stock closed the session at $0.3700, suffering a loss of 5.13%. CWBR stock lost a further 9.19% in the after hours to reach $0.3360 at 51.85K shares.

More About CWBR

CohBar Inc. is a clinical-stage biotechnology company with a market capitalization of $33.56 million. Currently, the company has 86.06 million shares outstanding in the market.

In the past five days, the stock has wet down by 8.96% while it has gained 5.74% year-to-date. Furthermore, the stock has lost a value of 74.13% last year.

Moreover, there seems to be no official reason for the current continued downtrend of the stock as no news has come to light recently.

Recent Developments

Recently, the company announced its participation in the H.C. Wainwright BioConnect Conference which started on January 10, 2022. The company’s CEO, Dr. Joseph Sarret is set to present an overview of CWBR at the virtual conference. Further, the conference will end on Friday, January 14, 2022.

Previously, the company had also made some changes to its Board of Directors, Scientific Advisory Board (SAB) and R&D leadership. The changes announced on December 17, included:

The transition of the company’s founders Drs. Nir Barzilai, Pinchas Cohen and John Amatruda from its board to a reconstituted SAB. The SAB will be responsible for advancing the company’s pipeline along with its Mito+ platform.

Resignation of Ken Cundy, Ph. D. as the company’s Chief Scientific Officer, effective March 31, 2022. Mr. Cundy resigned from the company for the exploration of other opportunities.

Appointment of Kent Grindstaff, Ph. D. as the company’s Senior Vice President of Research, effective January 4, 2022. Earlier, Mr.Grindstaff had served as the company’s Vice President of Biology for six years, hence knows the its science programs very well. Moreover, he has rejoined the company from BioAge Labs.

CWBR’s Financials

On November 15, the company declared its financial results for the third quarter of 2021.

In the third quarter of 2021, the company suffered from a net loss of $3.4 million or $0.05 per basic and diluted share. Comparatively, the net loss in the year-ago quarter was $3.2 million or $0.06 per basic and diluted share.

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