Clinical stage biotech firm Axcella Health Inc (NASDAQ:AXLA) saw its stock decline by 5.50% this past Friday and in light of the decline, it might be the right time for investors to perhaps figure out if it might be an opportunity to get into it at this point or not.
The company, which is looking to go for new methods in order to treat complex conditions, announced its financial results for the second quarter this past Thursday. The Chief Executive Officer and President of the company Bill Hinshaw spoke about Axcella’s performance in the second quarter as well.
He stated that due to the hard work that had been put in by members of the team at Axcella, the company was able to quickly take forward the development EMM or endogenous metabolic modulato combinations. It was a major development for the company and something about which the management seems to be excited as well.
Axcella reported that it had cash, marketable securities and cash equivalents to the tune of $78.9 million at the end of the second quarter. At the end of the quarter in December 31, 2020, it had $1.7.3 million on its books. Investors could do well to keep an eye on the stock this week.