Sharp view to Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC) earning

By | October 24, 2019

On Yesterday, Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC) shares recorded trading volume 52.37K shares as compared to its average volume of 70.62K shares. The shares price traded between $0.37 and $0.4 during the last trading session gained with 7.07% at $0.4. Over the one year trading period, the stock has a peak price of $1.7 and its down is recorded at $0.28.

The average true range of Cyclacel Pharmaceuticals, Inc.’s (CYCC) is recorded at 0.04 and the relative strength index of the stock stands 49.90. The stock price is going above to its 52 week low with 42.20% and lagging behind from its 52 week high with -76.47%. Analyst recommendation for this stock stands at 1.70. A look on the firm performance, its monthly performance is -13.05% and a quarterly performance of -27.26%. The stock price is trading downbeat from its 200 days moving average with -37.44% and down from 50 days moving average with -6.15%.

Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC), recently stated financial results and business highlights for the second quarter 2019. The Company’s net loss applicable to ordinary shareholders for the three months ended June 30, 2019 was $1.8M. As of June 30, 2019 cash and cash equivalents totaled $15.2M.

As of June 30, 2019, cash and cash equivalents totaled $15.2M contrast to $17.5M as of December 31, 2018. The decrease of $2.3M was primarily Because of net cash used in operating activities of $6.3M, offset by net proceeds from an Ordinary Stock Sales Contract with H.C. Wainwright of $4.1m.

Research and development expenses were $1.2M for the three months ended June 30, 2019 contrast to $1.2M for the same period in 2018.

General and administrative expenses were $1.2M for the three months ended June 30, 2019 contrast to $1.3M for the same period in 2018.

Other income, net for the three months ended June 30, 2019 was $0.2M contrast to $0.1M for the same period of the previous year.

The United Kingdom R&D tax credit was $0.3M for the three months ended June 30, 2019 contrast to $0.5M for the same period in 2018.

Net loss for the three months ended June 30, 2019 was $1.8M contrast to $1.9M for the same period in 2018. With the projected cash-sparing benefits accruing from the MD Anderson alliance the Company believes that cash and marketable securities, which were about $15.2M as of June 30, 2019, will be sufficient to finance operations through the end of 2020.

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