BioPharmX Corp (NYSEAMERICAN: BPMX) is having an incredibly strong start to the trading session this morning after the company announced its financial results for the fourth quarter and full fiscal year ending on January 31, 2018. Of course, the results were overwhelmingly positive, leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about:
- What we saw from the earnings release;
- what we’re seeing from BPMX as a result;
- and what we’ll be watching for with regard to the stock ahead.
BPMX Releases Earnings
As mentioned above, BioPharmX is having an incredibly strong start to the trading session this morning after announcing its financial results for the fourth quarter and fiscal year. Here’s what we saw from the report:
During the fourth quarter of 2018, the company generated a net loss of $3.8 million, which works out to $0.03 per share. On the full year, the company generated a net loss of $16.6 million, which works out to $0.19 per share. These figures show incredible year over year growth coming in ahead of $5.2 million, or a loss of $0.09 per share in the quarter one year prior and $18.5 million or $0.52 per share on a full year basis.
BPMX also reported cash and cash equivalents as of January 31, 2018 to be $7.6 million. After the year, the company also announced that it received a payment of $7.0 million cash through warrant exercises following the closing of the year. In a statement, Anja Krammer, President at BPMX, had the following to offer:
The past year has been filled with numerous milestones and accomplishments for BioPharmX… We achieved significant clinical milestones, including a successful Phase 2b trial for BPX-01 for acne and the launch of the BPX-04 rosacea program. We were granted three patents from the United States Patent and Trademark Office with numerous patents pending, which demonstrates a strong product pipeline.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. After all, the company is seeing shrinking losses and is sitting pretty when it comes to cash and cash equivalents. So, it’s no surprise that excited investors are pushing the stock toward the top. At the moment (9:46), BPMX is trading at $0.22 per share after a gain of $0.012 per share or 5.71% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on BPMX. In particular, we’ll continue to follow the company’s impressive work with regard to reducing losses as well as bringing needed treatments to the medical market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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