OHR Pharmaceutical Inc (NASDAQ:OHRP)
Shares of OHR Pharmaceutical Inc (NASDAQ:OHRP) closed higher by over 12% today on a volume figure that was over five times the listed average. Despite a lack of news concerning the pharmaceutical company, traders bid the company’s shares higher throughout the day but sellers stepped in with two hours left in the trading day and started to pressure the stock whenever it got over $0.70. OHRP shares ended the day at $0.69.
OHR Pharmaceutical, Inc. (NasdaqCM:OHRP) develops therapeutics and delivery technologies for the treatment of ocular diseases. Their pre-clinical pipeline is focused on the development of sustained release therapeutics for ocular diseases utilizing their patented microfabrication platform technology. OHR Pharmaceutical Inc (NASDAQ:OHRP) currently has several active programs evaluating molecules and approaches for the treatment of primary open angle glaucoma, steroid-induced glaucoma, ocular allergies, and retinal diseases. The U.S. Food and Drug Administration has awarded OHR’s Squalamine Fast Track Designation for the potential treatment of wet AMD.
OHRP Stock History
OHR Pharmaceutical Inc (NASDAQ:OHRP) shares hit their peak in 2014 when OHRP was trading, albeit briefly, just below $20 per share. However, shares are now struggling to stay above the $1 threshold which not only is psychologically important, but also triggers a NASDAQ compliance rule.
In 2012 the company reported a per share loss of (-$0.10). That loss expanded each year and in 2016 the per share loss was reported at (-$0.82). A lack of earnings is not unusual for a biotechnology firm that typically has a multi-year runway to revenues due to FDA approval requirements. But the company was also diluting shareholder equity during this time. In 2012 the number of outstanding shares stood at 14.24 million. That figure expanded every year and for 2016 the company listed the number of outstanding shares at 31.35 million.
Accordingly, shares have lost nearly 60% of their value year-to-date, and nearly 80% for the year. While shares are well above their 52-week low of $0.56, they are far away from their 52-week high of $3.10, and even further away from analysts’ consensus, one-year price target of $10.
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.