Vaccinex Inc (NASDAQ: VCNX) closed at $2.94 in yesterday’s session. Speaking of the monthly account, stock price was stable in the previous month. Dramatization came in only in the week from June 4 to June 7, when the stock price dwindled in the range of $2.28 to $3.1.
What to expect from here?
Vaccinex is looking ahead to open 13 new clinical sites in the U.S., focusing on research for Alzheimer’s disease. The corporation wants to commence 18 clinical centers targeted for neck and head cancers. Additionally, it wants 13 Alzheimer’s research sites and 18 HNSCC to be activated in the U.S.
This study is about to focus on 40 patients who have critical performance outcomes, validating the idea of Alzheimer primarily. There are some key developments to look for in the times ahead.
Upcoming milestones for immediate future
In Q2-2021, the company is looking for starting a Phase 1/2a trial for Alzheimer’s disease. By the mid of 2022, they will have initial data from neck and head cancer trial. In Late 2022/Early 2023, the company is pitching for data from its randomized Alzheimer’s trial.
Financial Results for Q1- 2021:
The company generated $850,000, generated primarily from licensing arrangement they have with Surface Oncology. As for R&D, the company spent $5.5 million in Q1-2021 against $5.4 million in the same quarter of the previous year. In the first quarter of this year, the General and administrative expenses rounded off at $1.6 million against $1.8 million for the corresponding period in the previous year.
As for cash and cash equivalents, the company had $29.4 million in the first quarter against $10.6 million in the previous quarter.
Vaccinex has a market capital of 83.64M USD, and its average trading volume in the market is 690.44K. With some positive news coming in, the investors can expect a higher riding tide in the near future only.