Bio-Path (NASDAQ:BPTH) earnings for the biotechnology company’s third quarter of 2019 saw BPTH stock taking a wild ride on Friday. The report has losses per share coming in at -78 cents for the quarter. That’s worse off than Wall Street’s -74 cents per share estimate.
Let’s see what else went down in the Bio-Path earnings report for Q3 2019.
- Per-share losses for the quarter are 85.50% better than -$5.38 from the same time last year.
- A net loss of -$2.20 million is 29.03% narrower YoY from -$3.10 million.
- Research and development expenses were down to $1.40 million from $2.30 million in the third quarter of 2018.
- The company currently has $15.40 million in cash on hand at the end of the quarter.
- That’s a major improvement over its cash on hand of $1.00 million at the end od 2018.
Peter Nielsen, President and CEO of Bio-Path, provides this update in the BPTH stock earnings report.
“We are working toward completing IND enabling studies of BP1003, a novel liposomeincorporated STAT3 oligodeoxynucleotide inhibitor for the treatment of solid tumors, and expect to file an IND application for a Phase 1 study of BP1003 for the treatment of solid tumors, including pancreatic cancer in 2020. Pancreatic cancer patients have extremely limited treatment options, consequently, we are dedicated to moving this therapy forward as quickly as possible.”
BPTH got off to a rough start today and hit a drop of 12.18% midday. However, the stock recovered from this fall by the time markets closed.
As of this writing, William White did not hold a position in any of the aforementioned securities.