Trending Stock: Aeglea BioTherapeutics, Inc. (NASDAQ:AGLE)

On Thursday 16 May, Aeglea BioTherapeutics, Inc. (NASDAQ:AGLE) shares price traded between $6.75 and $6.93 during the last trading session upbeat/downbeat with +0.59% at $6.87. The shares recorded trading volume 56,253 shares as compared to its average volume of 188,285 shares. The company has 28.85M shares outstanding and market value of 198.188M.

Aeglea BioTherapeutics, Inc. (AGLE) recently stated its fourth quarter and full year 2018 financial results and provided corporate highlights.

Fourth Quarter and Full Year 2018 Financial Results

As of December 31, 2018, Aeglea had accessible cash, cash equivalents and marketable securities of $74.5M, which excludes about $69.0M in gross proceeds from a public offering to new and existing shareholders in February 2019. Based on Aeglea’s current operating plan, and taking into account the $69.0M raised in February 2019, management believes it has sufficient capital resources to fund anticipated operations through the first quarter of 2021.

Grant revenues were the result of a $19.8M research grant received from the Cancer Prevention and Research Institute of Texas (CPRIT). The grant contract concluded in May 2018 with the full $19.8M in grant proceeds collected and recognized as revenue over the life of the award. Aeglea did not recognize any grant revenues in the fourth quarter of 2018, contrast with $1.5M in the fourth quarter of 2017. Grant revenues of $3.9M were recognized in the year ended December 31, 2018, contrast with $5.2M in the year ended December 31, 2017.

Research and development expenses totaled $11.8M for the fourth quarter of 2018, contrast with $5.8M for the fourth quarter of 2017. The raise was primarily Because of additional clinical development activity of Aeglea’s lead product candidate, pegzilarginase, and a ramp-up in manufacturing activities for pegzilarginase. Aeglea completed and exceeded enrollment in its Phase 1/2 clinical trial in patients with Arginase 1 Deficiency, completed enrollment of three single-agent cohort expansions in a Phase 1 clinical trial for advanced solid tumor patients, and completed enrollment of a Phase 1 combination trial in patients with small cell lung cancer.

Research and development expenses totaled $36.7M for the year ended December 31, 2018, contrast with $22.8M for the year ended December 31, 2017. The raise was primarily associated with advancing the clinical development of pegzilarginase and expanding our internal clinical development capabilities and research laboratory. Aeglea completed and exceeded enrollment in its Phase 1/2 clinical trial for pegzilarginase in patients with Arginase 1 Deficiency. Additionally, the Company initiated and completed enrollment of three single-agent cohort expansions for the Phase 1 trial in patients with advanced solid tumors and completed enrollment of its Phase 1 combination trial in patients with small cell lung cancer.

General and administrative expenses totaled $3.5M for the fourth quarter of 2018, contrast with $2.3M for the fourth quarter of 2017. This raise was primarily Because of additional employee headcount, compensation, and consulting costs.

General and administrative expenses totaled $12.6M for the year ended December 31, 2018, contrast with $10.1M in the year ended December 31, 2017. This raise was primarily Because of additional employee headcount and compensation to support Company growth.

Net loss totaled $14.9M and $6.5M for the fourth quarter of 2018 and 2017, respectively, with non-cash stock compensation expense of $1.4M and $0.7M for the fourth quarter of 2018 and 2017, respectively. Net loss totaled $44.3M and $27.2M for the years ended December 31, 2018 and 2017, respectively, with non-cash stock compensation expense of $4.3M and $2.5M for the years ended December 31, 2018 and 2017, respectively.

The company has price to cash ratio of 1.59. EPS growth for this year is -18.30% and EPS growth for next year is expected to reach at 9.00%. EPS growth in past five years was -65.90%. Analyst recommendation for this stock stands at 2.20.

Leave a Reply

Your email address will not be published. Required fields are marked *