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Here’s What you Should Know About Premarket Drop of Biolase, Inc. (BIOL) Stock

Biolase, Inc. (BIOL) is a leading innovative company engaged in the development, marketing, and commercialization of laser devices in medicine and dentistry. Cosmetic, restorative and complex surgical procedures can be done utilizing the novel devices of the company. The company offers range of products including diode laser, epic hygiene laser and waterlase.

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The price of BIOL stock during the regular trading on December 27, 2021 with a significant incline of 7.59% was $0.42. At last check in the pre market on December 28, 2021, the stock price dropped by 4.59%.

BIOL: Events and Happenings

On November 23, 2021, BIOL reported that it received grant notification from the NASDAQ Stock Market accepting company’s request for an extension of180-days to regain compliance with Nasdaq’s minimal bid price obligation. On November 23, 2021, BIOL reported that the company’s management presented at the Virtual Benchmark Company Discovery One-on-One Investor Conference on December 2, 2021.

On November 17, 2021, BIOL encouraged the shareholders to vote for the revision to Certificate of Incorporation to impact a reverse stock split. The distinct meeting of shareholders was held on November 19, 2021.

BIOL: Key Financials

On November 10, 2021, BIOL reported financial results for third quarter ended September 30, 2021. Some of the highlights are as follows

Net Revenue and Assets

Net revenue for the third quarter of 2021 reported by the company was $9.5 million, as compared to the same period of 2020 when it was $6.5 million. An increase of 46% was observed over the year. Total current assets of the company for Q3 2021 were $52 million.

Net Loss per Share

Basic and diluted net loss per share was reported to be $3.27 million or $0.02 per share for Q3 2021 in comparison to the same period prior year when net income was $0.012 million or $0.21 loss per share.

On November 4, 2021, BIOL reported the launch of Epic Hygiene Academy to deliver better-quality and continued education and support patient care via laser technology. The platform will allow dentists to use lasers to provide the better prevention and treatment to their patients. On September 14, 2021, BIOL and Healthy Smiles invited the top-notch dental professionals to raise awareness regarding improved oral well-being of kids in the community.

On September 8, 2021, BIOL announced the presentation of company’s management in two investor conferences. The conferences include Colliers 2021 Institutional Conference held on September 9 and H.C. Wainwright 23 Annual Global Investment Conference held on September 13-15.

Conclusion

The company’s stock dipped 42% from the past month and is continuing the same trend. The drop in stock price in premarket is a result of unfavorable market conditions. But the investors are positive that the pipeline collaborations will be fruitful for the company resulting in the stock price rise in the future.

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