Negative and active time frame: Selecta Biosciences, Inc. (NASDAQ: SELB)

On 14 May 2020, Selecta Biosciences, Inc. (NASDAQ: SELB) spotted trading -31.26% off 52-week high price. On the other end, the stock has been noted 159.38% away from the low price over the last 52-weeks. The stock changed -1.78% to recent value of $3.32. The stock transacted 614333 shares during most recent day however it has an average volume of 806.24K shares. The company has 83.87M of outstanding shares and 72.3M shares were floated in the market.

Selecta Biosciences, Inc. (SELB) recently stated financial results for the fourth quarter and year ended December 31, 2019.

“2019 was a pivotal year for Selecta. We made substantial clinical advancements, as we completed enrollment in the head-to-head COMPARE trial for our lead product candidate, SEL-212, in chronic refractory gout, and advanced our gene therapy program through planned joint ventures with AskBio. We also strengthened our organization with the addition of several key members to the executive team and welcomed a new Chairman of our Board of Directors, and completed a $70M financing,” stated Carsten Brunn, Ph.D., President and CEO of Selecta. “In the coming year, we look forward to reporting topline data from the COMPARE study, commencing the Phase 3 clinical program of SEL-212, and advancing our gene therapy program into the clinic in joint venture with AskBio.”

Fourth Quarter and Full Year 2019 Financial Results:

Cash Position: Selecta had $91.6M in cash, cash equivalents, and restricted cash as of December 31, 2019, which compares to cash, cash equivalents, restricted cash, and short-term investments of $35.9M as of September 30, 2019. Selecta believes its accessible cash, cash equivalents, and restricted cash will be sufficient to meet its operating requirements into the first quarter of 2021.
Net cash used in operating activities was $12.9M and $51.4M for the fourth quarter and fiscal year 2019, respectively, as contrast to $12.7M and $59.2M for the same periods in 2018.
Research and Development Expenses: Research and development expenses for the fourth quarter and fiscal year 2019 were $15.2M and $42.7M, respectively, which compares with $10.3M and $47.7M for the same periods in 2018. The quarterly increase reflects additional costs incurred specific to our Phase 2 head-to-head (COMPARE) clinical trial of SEL-212, for which we completed enrollment in December 2019. The decrease year over year reflects reduced costs in 2019Because of the completion of previous programs in 2018, combined with reduced salaries and benefits resulting from the headcount reduction in early 2019. The cost reductions were offset by an overall increase in costs incurred on our lead product candidate, SEL-212.
General and Administrative Expenses: General and administrative expenses for the fourth quarter and fiscal year 2019 were $4.1M and $16.4M, respectively, which compares with $5.1M and $18.2M for the same periods in 2018. The decrease is the result of lower salaries and stock compensation expense resulting from reduced headcount at the end of 2018, combined with reduced patent and professional fees.
Net Loss: For the fourth quarter and fiscal year 2019, Selecta stated a net loss of $14.9M, or $0.28 per share and $55.4M, or $1.22 per share, contrast to a net loss of $14.7M, or $0.65 per share, and $65.3M, or $2.92 per share, for the same periods in 2018.

The price moved ahead of 16.51% from the mean of 20 days, 28.58% from mean of 50 days SMA and performed 44.05% from mean of 200 days price. Company’s performance for the week was 10.67%, 19.42% for month and YTD performance remained 39.50%.

 

Ronald Hemphill

Ronald Hemphill– Business Stories My Name is Ronald Hemphill and I am also the main source from the ‘Journalnewsbulletin.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.

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