Clinical stage biopharmaceutical firm Zosano Pharma Corporation (NASDAQ:ZSAN) saw its stock make a big move over the course of the past week as it clocked gains of as much as 30% during the period. While the gains made by the stock were considerable, it ought to be noted that there was no news about the company last week.
Trading Data
On Friday, ZSAN stock fell 8.16% to $0.2320 with more than 26.81 million shares, compared to its average Friday of 12.87 million shares. The stock moved within a range of $0.2300 – 0.2600 after opening trade at $0.2570.
Zosano Pharma Reports Fourth Quarter and Fiscal Year 2021 Financial Results
However, earlier on in the month on March 17, Zosano had come into focus among investors after it announced its financial results for the fourth quarter and the full fiscal year, both of which ended on December 31, 2021.
In this situation, it may be a good move from investors to consider taking a look at some of the highlights from the financial results. In the fourth quarter, the company suffered a loss of $7 million, which worked out to $0.06 a share.
However, it ought to be noted that the losses had been reduced from the $8.1 million in losses that the company had suffered in the prior year period. The research and development expenses in the quarter came in at $4.7 million and that was actually lower than the expenses of $5.4 million under the same overhead in the prior year period.
Key Quote
“We are in discussions with the FDA to determine if there is a viable option to pursue approval of M207 using the currently available clinical data. In addition, we are actively evaluating financial and strategic alternatives in collaboration with external advisors, with a goal of maximizing value,” said Steven Lo, president and chief executive officer of Zosano. “We believe our proprietary transdermal microneedle patch technology offers potential therapeutic and practical benefits to patients.”
Technical Data
ZSAN stock is trading below the 50-Day and 200-Day Moving averages of $0.29 and $0.59 respectively. However, the stock is trading above the 200-Day moving average of $0.21.
