Acasti Pharma Inc. (ACST) is a leading novel biopharmaceutical company engaged in the development and commercialization of drug candidates related to different cardio-vascular diseases. Some of the company’s lead drug candidates include GTX-104, an intravenous infusion which basically treats Subarachnoid Hemorrhage, GTX-102, for the treatment of Ataxia-Telangiectasia, and GTX-101 used in the treatment of Postherpetic Neuralgia.
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The price of ACST stock during the regular trading on January 4, 2022, was $1.43 with an incline of 3.62%. At last check in the aftermarket, the stock was further significantly up by 8.39%.
ACST: Events and Happenings
On January 03, 2022, ACST reported that the company’s Executive will present at the Virtual 2022 H.C. Wainwright BioConnect Conference being held on January 10-13, 2022. On December 02, 2021, ACST reported positive outcomes for GTX-104. The drug had met both prime endpoints for Maximum Concentration on first Day and Area Under the Concentration-Time Curve on the third Day. It allowed the trial to continue to its completion via the infusion procedure.
On November 24, 2021, ACST reported that the company’s Executives presented at the Benzinga All Access event held on December 2, 2021. On November 12, 2021, ACST reported the grant of annual stock options for the company’s employees and management. A sum of 2,077,900 options for the acquisition of common shares of ACST was granted under the protocol. The shareholder acquired one common share of ACST at a maximum price of CDN $2.05.
ACST: Key Financials
On November 10, 2021, ACST reported its financial results for the second quarter of fiscal 2022 ended September 30, 2021. Some of the key points are as follows
Net Income/Loss per Share
Basic and diluted net income per share for Q2 2022 was $1.0 million or $0.03 per share as compared to a net loss of $6.1 million or $0.52 per share for the same period the prior year.
On October 06, 2021, ACST reported about the issuance of the composition of matter patents for GTX-101 by European, Chinese and Mexican Patent Offices. The patents granted are valid till 2036. On September 27, 2021, ACST reported about the initiation of a pharmacokinetic bridging clinical study to assess the comparative bioavailability of IV GTX-104 in comparison to nimodipine capsules.
ACST’s stock is 20% up in contrast to the past month due to several reasons including the positive study results and notice of attending a bioconnect conference. The recent surge in the stock price in the aftermarket is the result of uncertainty in the market along with several other factors mentioned above which is favoring the company’s stock. The analysts are optimistic that the company is gaining momentum in the new year which is the sign of hope.