This past Friday, the Salarius Pharmaceuticals Inc (NASDAQ:SLRX) stock had emerged as one of the major losers and ended the day with a decline of as much as 27%. It is a biopharmaceutical company and is primarily involved in the development of therapies for patients who may be in need to new options as regards their treatment.
Trading Data
On Friday, SLRX stock moved down 26.62% to $0.3669 with more than 1.89 million shares, compared to its average volume of 426K shares. The stock moved within a range of $0.3588 – 0.4680 after opening trade at $0.4620.
Earnings Review
Last Thursday the company had actually come into focus among investors after it made an announcement with regards to its financial results for the fourth fiscal quarter and the full year, both of which ended on December 31, 2021.
The company announced that it had total cash to the tune of as much as $29.2 million for the period that ended on December 31, 2021.
More importantly, it was announced that the cash is estimated to run up until December 2023. On the other hand, the net losses suffered by the company per share in the three month and the 12 month periods, came in at $0.09 a share and $0.31 a share respectively. That was lower than the losses of $0.10 per share and $0.50 a share net losses suffered in the prior year period.
Key Quote
“We believe the progress made by Salarius Pharmaceuticals during 2021 and the early weeks of 2022 has once again been remarkable, including the Company’s recent expansion into the field of targeted protein degradation (TPD),” stated David Arthur, CEO of Salarius Pharmaceuticals.
Technical Data
SLRX stock is below the 20-Day and 50-Day Moving averages of $0.41 and $0.45 respectively. The stock is trading in the oversold zone with the RSI at 42.
