China STX Pharmaceuticals, Inc. (SXTC) is a leading novel biotherapeutics company engaged in the development, marketing, and commercialization of conventional ready-to-use Chinese medicine piece tablets. The company is focused on the production of medicines such as HongQi, XueJie, HongQuMi, and many more.
The price of SXTC stock during the regular trading on January 18, 2022, was $0.22 with a sharp nose-diving of 58.7%. At last check in the premarket on January 19, 2022, the stock was further down by 4.29%.
SXTC: Events and Happenings
On January 18, 2022, SXTC reported about the pricing of its underwritten public offering of the ordinary shares and warrants for the acquisition of ordinary shares, with gross proceeds to the SXTC to be up to $3.5 million. The total number of ordinary shares in the offering is 19,806,760 at a public offering price of $0.18 per share and warrants. The Company intended to utilize the net proceeds for corporate purposes and other business opportunities.
On January 14, 2022, SXTC reported about the development and commercialization of Kuihuapan After-Soaking-Oral TCMP and Zhudanfen Directly-Oral TCMP product line. The Kuihuapan product line has the potential to clearing heat, calm the liver and analgesic properties. The Zhudanfen product line has the potential to moistening the dryness, cough, asthma relieving, and several other purposes.
On December 16, 2021, SXTC reported about the receipt of notification from NASDAQ regarding non-fulfillment of the minimum bid price per share criteria for its ordinary shares to be below $1.00 for 30 consecutive business days.
On October 18, 2021, SXTC reported about the receipt of a Pharmaceutical Manufacturing Permit from Jiangsu Province Medical Products Administration. According to the permit, the company will improve the production scope of lyophilization processing.
SXTC stock is 86% down as compared to the last six months period due to the economic restrictions imposed by the pandemic globally. The company’s stock is down falling in the regular trading as well as the current premarket session possibly due to the press release regarding the pricing of ordinary shares of the company. The analysts are suggesting the company take groundbreaking steps to improve its stock pricing in the market or else the investors will lose their trust in the company’s policies.