BioTech

Eleven Biotherapeutics Inc (NASDAQ:EBIO) Hit New Low

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) shares hit a new 52-week low of $0.90 on a volume figure of 1.2 million shares – almost four times the posted 30-day, daily average. EBIO shares have been on a steady slide since mid-September. In the past month, EBIO shareholders have lost over 37%.

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) is a late-stage, clinical oncology company developing novel product candidates based upon their proprietary targeted protein therapeutics (TPTs) platform. Eleven Biotherapeutics TPTs incorporate a tumor-targeting antibody fragment and a protein cytotoxic payload into a single protein molecule to achieve focused tumor cell killing.

On September 22, 2017 EBIO shares closed at $1.60 – around 60% above today’s closing price. That day Eleven Biotherapeutics Inc (NASDAQ:EBIO) announced that it had completed the manufacturing of all Vicinium for its ongoing Phase 3 registration trial in patients with non-muscle invasive bladder cancer (NMIBC), and for its Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute. Accordingly, Eleven announced ending its large-scale manufacturing activities and redirection of resources towards the completion of its Phase 3 trial and preparing for discussions with the U.S. Food and Drug Administration (FDA) regardingthe submission of a Biologics License Application (BLA) for Vicinium in patients with NMIBC. This change included an impending reduction of headcount.

Eleven Biotherapeutics Performance

In 2012, EBIO shareholders experienced a per share loss of (-$13.91) that was followed in 2013 by a loss of (-$16.19). But in 2014, the per share loss shrank to ($-2.37), then shrank again in 2015. The trend continued and in 2016 the company posted a per share profit of ($0.09).

Sales have been lackluster and registered just $1 million for 2015 but Eleven Biotherapeutics posted sales of $30 million for 2016. Unfortunately, the number of outstanding shares has been increasing and diluting shareholder equity. In 2013 the number of outstanding shares was just 1.35 million. That number was reported at 21.08 million for 2016.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

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Monica has an undergraduate degree in Accounting and an MBA she earned - with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

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