Over the course of the past month, the CytomX Therapeutics Inc (NASDAQ:CTMX) stock has been in the middle of a steady selloff and the trend continued to be the same on Wednesday. Yesterday, the stock tanked by 6% as the selloff continued and that took its decline for the past month to as much as 20%.
There was no fresh news about the company yesterday that might have led to the decline but in this context it might be a good idea for investors to take a look at its second fiscal quarter financial results that were announced on August 6.
At the end of the second quarter that ended on June 30, 2021 the company reported that it had cash, long term investment and cash equivalents to the tune of as much as $366 million in its books.
That represented a sharp rise from the $316 million that it had at the end of December 31, 2020. On the other hand, the revenues for the quarter came in at $16 million and that remained largely unchanged from the revenues generated in the prior year period. Investors could keep an eye on the CytomX stock at this point and see if it can make a recovery.