Axcella Health Inc. (AXLA) stock soared 18.28% in the current-market trading session at the price of $2.03 despite no fundamental updates.
AXLA Q4 2021 Earnings Report
On 30th March 2022, AXLA announced its financial results for the quarter and year ended 31st December 2021 and delivered its business updates. As of 31st December 2021, AXLA has cash and cash equivalents of US$55.0M. Cash and cash equivalents totaled US$107.3M on 31st December 2020. Axcella hopes to fund its operating needs in 2023 using its current cash balance.
AXLA calculated R&D costs of US$12.5M for Q4 of 2021, compared to US$10.6M for Q4 of 2020. R&D expenses were US$43.1M for the year 2021, compared to US$37.0M last year. The company reported G&A costs of US$4.7M for Q4 of 2021, compared to US$3.9 for Q4 of 2020. G&A costs totaled US$18.7M for the year 2021, compared to US$16.8M the previous year.
AXLA has a net loss of US$17.9M, or US$0.46 per share, for Q4 of 2021, compared to a loss of US$15.2M, or US$0.40 per share, for the same period of 2020. Net loss totaled US$64.6M, or US$1.70 per share, for the year 2021, compared to the loss of US$56.5M, or $1.78 per share, the prior year. The stock acquired roughly US$25.0M in gross proceeds from the direct offering of its common stock.
AXLA Market Updates
The year 2021 marked significant achievements for Axcella that were underscored by the start of its three Phase-II trials. The company has dedicated itself to continuing this momentum in 2022 by acquiring the Fast Track designation for AXA1125 evaluating NASH. The AXLA stock expects to publish its results from the Long Covid Phase 2a trial and NASH Phase 2b trial by Q3 of 2022. With the company’s strengthened balance sheet, AXLA is all set for a transformational 2022.