Aridis Pharmaceuticals, Inc. (ARDS), a late-stage biopharmaceutical company, has declined by 5% in premarket trading session and consequently is trading at $1.52 at the time of the writing. On Friday, the stock closed the day at $1.60 after surging 20.30% during the regular trading session. The stock was potentially up due to the expected news announcement from the company, which stirred investor interest in the stock.
ARDS Product’s Reactivity Against Omicron
In late December, ARDS announced that its fully human monoclonal antibody (mAb) cocktail AR-701 has proven to be highly effective reactive against the Omicron and other COVID-19 (SARS-CoV-2) variants. The company said that AR-703 binds with the ‘S2’ stalk region of coronavirus spike proteins. The region is responsible for the viral fusion as well as for entry into host cells. It binds to the Omicron variant with no loss in affinity when compared with the original strain that was discovered in the Chinese city of Wuhan.
Q32021 Operational Results
In early November, ARDS released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company generated total revenue of $0.51 million during the quarter. The total operating expenses for the three months were $21.54 million against $5.79 million for the same three-month period of 2020. The net loss suffered by the company for the period stood at $21 million (or $1.94 per basic and diluted share) against $5.78 million (or $0.65 per basic and diluted share) for the same period of 2020.
While commenting on the results, Vu Truong, Ph.D., Chief Executive Officer of ARDS said that the quarter was defined by the successful acquisition of the Phase 3-ready asset suvratoxumab (AR-320) as well as the addition of two new shareholders. The company is in a great position to build its leadership in the respiratory health space as a result of the strengthened financial position of the company.
Future Outlook for ARDS
The last month has seen ARDS stock decline by approximately 42%, the reason being the uncertainty associated with the products of the company. Looking ahead, the analysts have placed a green signal for the stock, meaning that it could provide the investors with handsome returns in the next few weeks. Hence, investors should make an informed decision regarding investment in ARDS.