Vaxart Reported an Earnings Miss and Precipio Launched COVID-19 Antibody Test
Vaxart is a small-cap biotech company that primarily focuses on the development of oral vaccines. They have been in the headlines lately, with parabolic price movements mirroring the situation with GameStop, AMC, and other small companies. Its 52-week high stands at 24.90, which was hit in the beginning of February.
Unfortunately, Vaxart reported some very disappointing Q1 results. The company announced a loss of 14 cents per share, which was a steep drop from a meager loss of 2 cents per share last year. Revenue also declined by 83% to $506,000 as Vaxart received lower royalty payments from Japan for a flu drug. Expenses were also a worry, as they reported a sixfold increase in R&D costs due to increased testing for a COVID-19 vaccine, which is an interesting development because it is in the form of a pill.
Vaxart closed at $8.01 on Monday, down 25.73% on the day.
Precipio is a healthcare company located in New Haven, Connecticut. They are classified as a micro-cap stock with a market capitalization of $89.754 million and fall on the list of penny stocks.
On Monday morning, Precipio announced that they launched their COVID-19 rapid antibody test on Amazon’s business platform. The test was manufactured in Palo Alto, and it was the first U.S based test to receive an emergency use authorization by the FDA. The company continued in a statement that the test could also allow for vaccinated people to see if their antibodies have formed, which can be very useful.
Precipio closed at $4.95, up a whopping 171.98% on the day.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.