Yesterday, Neon Therapeutics, Inc. (NTGN) shares price traded between $11.53 and $11.95 during the last trading session above with +1.63% at $11.82 . The shares recorded a trading volume 15,190 million shares as compared to its average volume of 150,133 shares. The company has 28.3M shares outstanding and market value of 334.538M. Over the one year trading period, the stock has a peak price of $16.23 and its down is recorded at $10.21. The short ratio in the stock is 4.3 and the short float is around of 1.26%.
Neon Therapeutics, Inc. (NASDAQ: NTGN) stated financial results and provided a business update for the second quarter of 2018.
Second Quarter 2018 Financial Results
Cash Position: As of June 30, 2018, cash, cash equivalents and marketable securities were $138.6M, as contrast to cash, cash equivalents and marketable securities of $79.7M as of December 31, 2017.
R&D Expenses: R&D expenses were $14.8M for the quarter ended June 30, 2018, as contrast to $7.3M for the same quarter last year. The increase of $7.5M was due primarily to increased costs related to the advancement of NEO-PV-01, including increased external manufacturing and other external costs to support our ongoing and planned clinical trials, as well as increased personnel-related costs Because of additional headcount to support the growth of our research and development organization.
G&A Expenses: G&A expenses were $4.3M for the quarter ended June 30, 2018, contrast to $2.4M for the same quarter last year. The increase of $1.9M was driven by increased personnel-related costs Because of additional headcount, as well as increased consulting and professional fees.
Net Loss Attributable to Ordinary Stockholders: Net loss attributable to ordinary stockholders was $22.1M for the quarter ended June 30, 2018, or $7.84 per basic and diluted share, as contrast to a net loss attributable to ordinary stockholders of $12.1M for the same quarter last year, or $7.55 per basic and diluted share.
Financial Guidance: Based on its current operating plan, Neon expects that its cash, cash equivalents and marketable securities as of June 30, 2018, including the proceeds from its initial public offering, will enable it to fund its operating expenses and capital expenditure requirements into at least the first quarter of 2020.
Neon achieved several key operational milestones during the second quarter of 2018, including the following:
In June 2018, Neon completed its initial public offering of ordinary stock, raising $100M in gross proceeds.
In May 2018, Neon reported that the first patient was dosed in NT-002, its Phase 1b clinical trial evaluating the company’s personal neoantigen vaccine, NEO-PV-01, in combination with Merck’s anti-PD-1 therapy, KEYTRUDA® (pembrolizumab), together with chemotherapy.
In the liquidity ratio analysis; Neon Therapeutics, Inc.’s (NTGN) debt to equity ratio was 0.00 while current ratio was 15.40. The company has the institutional ownership of 66.10%. The stock’s RSI amounts to 45.88. The stock’s institutional ownership stands at 66.10%.