On Friday LogicBio Therapeutics Inc (NASDAQ: LOGC) has shown an upward move of 0.5% and traded the recent trade at $10.14. The trading volume is recorded to 31.19K shares as compared to average traded volume of 27.38K shares.
LogicBio Therapeutics Inc (LOGC) stock’s market capitalization arrived at $228.66M and total 22.55M outstanding shares. The stock has a 52-week highest price of $20.07 and its 52-week lowest price was called at $6.34. During last trade, its maximum trading price was registered $10.26 and it’s the minimum trading price was noted $9.95.
LogicBio Therapeutics Inc (NASDAQ: LOGC), recently stated financial results and provided a corporate update for the second quarter ended June 30, 2019.
Three Months Ended June 30, 2019 and 2018
- R&D Expenses: Research and development expenses were $7.9M for the three months ended June 30, 2019, contrast to $2.2M for the same period last year. The increase of about $5.7M was primarily Because of a raise of about $3.9M related to external development and manufacturing expenses for our lead product candidate LB-001, $0.8M in other research and development expenses as we increased our overall research and development activities related to general platform development and internal efforts for LB-001 and $1.0M in personnel-related costs Because of a raise in headcount. Personnel-related costs for the three months ended June 30, 2019 included stock-based compensation expense of $0.2M, contrast to $48,000 for the three months ended June 30, 2018.
- G&A Expenses: General and administrative expenses were $2.5M for the three months ended June 30, 2019, contrast to $1.4M for the same period last year. The increase of about $1.1M was primarily Because of professional fees and personnel-related costs, including salaries, stock-based compensation and bonuses. The increase in professional fees was primarily Because of a raise in legal, auditing and consulting services provided. The increase in personnel-related costs was primarily Because of a raise in headcount of senior level employees. Stock-based compensation expense included in general and an administrative expense was $0.3M and $0.1M for the three months ended June 30, 2019 and 2018, respectively.
- Net Loss: Net loss attributable to ordinary stockholders was $10.0M, or $0.45 per share, for the three months ended June 30, 2019, contrast to a net loss attributable to ordinary stockholders of $8.2M, or $4.19 per share, for the same period last year.
- Cash Position and Financial Guidance: Cash, cash equivalents and investments were $63.7M as of June 30, 2019. The Company expects that its cash, cash equivalents and investments at June 30, 2019, together with the net proceeds received under the Secured Debt Facility entered into on July 2, 2019, are projected to fund the Company’s planned operations into 2021.
In the liquidity ratio analysis; LogicBio Therapeutics, Inc.’s (LOGC) debt to equity ratio was 0.00 while current ratio was 14.20. The company has the institutional ownership of 72.00% while the Beta factor was # ref. The stock’s RSI amounts to 52.92.