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Orchard Therapeutics plc (ORTX) Stock Gaining Momentum Aftermarket Despite any Visible Reason

Orchard Therapeutic PLC (ORTX) is one of the leading developers of gene therapies for treating rare genetic diseases. The lead product candidates which involve hematopoietic stem cells therapy include Strimvelis or OTL-101 for treating ADA-SCID, OTL-200 for treating metachromatic leukodystrophy, OTL-103 for Wiskott-Aldrich syndrome, OTL-102 for chronic granulomatous disease, and OTL-300 for beta-thalassemia.

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The price of ORTX stock during the regular trading session on January 7, 2022, was $1.27 with a slight decline of 3.05%. At last check in the aftermarket, the stock shined by 6.30%.

ORTX: Events and Happenings

On January 04, 2022, ORTX reported that the company’s Executives will present at the 40th Annual Virtual J.P. Morgan Healthcare Conference being held on January 13, 2022.  On November 18, 2021, ORTX reported about the publication of its findings regarding the safety and efficacy of OTL-203 (used in treating a subtype of Mucopolysaccharidosis) in the New England Journal of Medicine.

On November 08, 2021, ORTX reported that the company’s Executives presented at the two investor conferences held virtually. The conferences include Barclays Gene Editing & Gene Therapy Summit held on November 15 and Stifel Healthcare Conference 2021 on November 16, 2021.

ORTX: Key Financials

On November 04, 2021, ORTX announced its financial results for the quarter that ended September 30, 2021. Some of the key updates are as follows

Revenue and Assets

Revenue generated for the third quarter of 2021 was $1.1 million as compared to the same period prior year when it was $1.9 million. Total current assets were reported to be $291 million for Q3 2021.

Net Loss per Share

Basic and diluted net loss per share for the third quarter of 2021 was $36.4 million or $0.29 per share as compared to the same period the previous year when it was $20.2 million or $0.20 per share.

On October 13, 2021, ORTX reported that the European Society of Gene & Cell Therapy Congress accepted its nine abstracts for presentation which took place on October 19-22, 2021. The company exhibited two oral and seven poster presentations. On September 14, 2021, ORTX reported that it presented an update on the OTL-104 platform for treating NOD2 Crohn’s disease, along with an outline of new applications for the regulatory T cells and HSC-based vectorization of monoclonal antibodies.

On September 08, 2021, ORTX reported that the company’s Executives presented at the R&D Investor Event held virtually on September 14, 2021. On September 07, 2021, ORTX reported about the approval of a grant of non-statutory stock options to acquire approximately 278,500 ordinary shares by the Compensation Committee of its BoD’s.

Conclusion

ORTX stock sinks 66% down the past six months mainly because of the pandemic situation around the world which reduced the economic activities. The company’s stock recently rises in aftermarket trading despite no clear reason. The analysts are suggesting this bounce back to be essential for the company’s development. The policies of the company need to be investor-centric for its flourishing.

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