Zosano Pharma Corp. (NASDAQ: ZSAN) stock showed a downswing by 5.00% in the last trading close whereas the stock rises in after-hours by 12.78%. There is no recent news or press release available, to be the exact reason behind this change in ZSAN stock price. On 11 March, ZSAN has announced its fourth quarter and fiscal year 2020 financial results which could might be the reason behind this up and down in Zosano Pharma stock price. Zosano Pharma Corp is a biopharmaceutical company that focuses on developing products with rapid administration of approved molecules and established safety and efficacy profiles to provide benefit to the patient whereas in the market people do not get the treatment that they need.
- ZSAN has reported a net loss of $8.1 million in the fourth quarter of 2020 as compared to $8.9 million in the fourth quarter of 2019. For full-year 2020, ZSAN stock has experienced a net loss of $33.4 million compared to $37.6 million for the full year 2019.
- ZSAN has calculated its Research and Development expenses as $5.4 million in the fourth quarter of 2020 compared with $5.6 million for the same quarter of 2019. The decrease of $0.2 was mainly due to $0.4 million of lower employee and consulting expenses. For full-year 2020, the R&D expenses were $21.6 million compared with $25.4 million in full-year 2019.
- General and administrative expense in the fourth quarter of ZSAN financial year was $2.6 million, while for the fourth quarter of 2019 it was $3.1million. For the full year 2020, the G&A expense was $11.2 million while it was $11.8 million for the full year 2019. The decrease of $0.5 million and $0.6 million is due to lower employee-related expenses.
- Lastly, ZSAN recorded its cash and cash equivalents as $35.3 million which was previously calculated as $6.3 million as of December 31, 2019.
If we look closely at the financial results, ZSAN has made better progress as compared to the previous year despite the pandemic situation going on in the world. This could be a solid reason for investors to show their interest in ZSAN stock that has caused the rise in stock. Furthermore, ZSAN has signed few important agreements, one of which is with Mitsubishi Tanabe Pharma Corporation and partnerships with EVERSANA which is a promising sign for the future of Zosano Pharma Corp.