When it comes to the pharmaceutical industry, regulatory clearance is the most important thing considering the fact that companies can bleed cash if they don’t get the necessary approvals. Hence, there are now companies that are solely responsible for providing consultancy services for regulatory issues to companies in the pharmaceutical sector. Pharma-Bio Serv (OTCMKTS:PBSV) is one such company and it primarily offers its services in four major markets.
Trading Data
On Tuesday, PBSV stock moved up 14%% to $0.9599 with more than 2K shares, compared to its average volume of 3K shares. The stock moved within a range of $0.9599 – 0.9599 after opening trade at $0.9599.
About Pharma-Bio Serv
The four markets in question are the United States, Latin America, Puerto Rico, and Europe. It helps companies with regulatory compliance issues related to the United States Food and Drug Administration and other agencies in the international markets. The personnel in its global team is made up of directors, engineers, quality assurance experts, and professionals in the life science space.
Pharma Bio Serv Announces Results for the Three and Six Months Ended April 30, 2022
The company was on the radars of investors on Tuesday as it rallied in a big way and ended up with gains of as much as 14%. The rally came about after Pharma-Bio Serv announced its financial results for the three-month and six-month periods, both of which had ended on April 30, 2022. It seems that the investors were happy with the numbers that were posted by the company and hence, sent it soaring. It will be interesting to see if the stock can manage to hold on to its momentum and end up with more gains today or over the coming days.
The company announced that it had generated revenues of $5 million and $10 million for the three-month and six-month periods respectively. The figures represent a year-on-year rise of as much as $0.1 million and $0.5 million from the revenues that Pharma-Bio Serv had generated in the corresponding periods in 2021. On the other hand, the net income for the periods came in at $0.2 million and $0.5 million.
However, those numbers did not show any major change fro the net losses that had been suffered by Pharma-Bio Serv in the prior year periods. It was also noted yesterday that Pharma-Bio Serv had been able to handle the difficulties in relation to the COVID 19 pandemic and managed to unlock value for shareholders.
Key Quote
“While uncertainties exist relating to the global economy, we have been able to deliver steady and constant results for our clients and shareholders. We are pleased with the results obtained for the last six months and will continue to execute our strategy which focuses on providing multiple services to our existing clients while pursuing additional growth opportunities for the Company,” stated Mr. Sanchez, Chief Executive Officer of the Company.
Technical Data
PBSV stock is trading above the 20-Day and 50-Day Moving averages of $0.91 and $0.89 respectively. Moreover, the stock is trading above the 100-Day moving average of $0.91.
