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Tag: AGE

  • AgeX Therapeutics Inc. (AGE) Falls Under Corrections After Hours

    AgeX Therapeutics Inc. (AGE) Falls Under Corrections After Hours

    AgeX Therapeutics Inc. (AGE) stock gained huge during regular trading while there was no news from the company. Following the hike, the stock fell under corrections in the after-hours to shed its gains.

    With no news from the company, AGE added a huge 85.09% during regular trading on Friday. After closing the session at $1.09, the stock succumbed to corrections in the after-hours to fall down to $0.92. Hence, the stock lost 16.06% to corrections in the after hours.

    AGE and its Movements

    The biotechnology company, AgeX Therapeutics Inc. has a market capitalization of $41.35 million with 37.94 million shares outstanding.

    On December 31, investors flocked towards the AGE stock, making it trade heavily at 17.96 million shares. The day’s volume was a huge 4,810% of its 65-day average. Moreover, the stock took a huge leap and reached a high of $1.39 after over five months. Consequently, the stock succumbed to corrections in the after hours.

    Moreover, AGE has added a value of 81.67% in the past five days alone and 75.81% last month. Furthermore, the stock has gone down by 28.29% in the past year.

    Collaboration with University of California

    On December 14, the company announced its collaboration with the University of California, Irvine (UCI). The participants will research the therapeutic potential of exosomes and other extracellular vesicles. These vesicles came from AGE’s pluripotent stem cells’ neural derivatives. Moreover, the goal of this research will be deriving therapies for the treatment of chemotherapy and radiation’s neurocognitive effects on brain function.

    Furthermore, Munjal Acharya, Ph.D. will supervise the research at UCI. Dr. Acharya is the Associate Professor at the Stem Cell Research Center, UCI, with experience of over a decade. In addition, Dr. Acharya will also extract required vesicles from the program for therapies for Huntington’s disease and other neurological disorders.

    As per the collaboration, AGE will license inventions that may result from the research program. Moreover, using the inventions, the company would also develop and commercialize therapies.

    AGE’s Financial Analysis

    On November 12, the company announced its financial results for the third quarter of 2021.

    In the third quarter of 2021, AGE generated revenues of $24,000 against $69,000 in the year-ago quarter.

    Moreover, the company ended the quarter with cash, cash equivalents, and restricted cash of $0.8 million on September 30, 2021. Through a loan from Juvenescence, the company has received a further $0.5 million since October 1.

  • AgeX Therapeutics, Inc. (AGE) stock rises over 10% Pre-Market today: Why is it so?

    AgeX Therapeutics, Inc. (AGE) stock rises over 10% Pre-Market today: Why is it so?

    Shares of the AgeX Therapeutics, Inc. (AGE) stock were rising in the pre-market trading session on Monday, April 26, 2021. AGE stock price saw a surge of 11.97% to reach $1.59 a share as of this writing. AgeX Therapeutics was gaining in the previous trading session and went up by 1.43% having a $1.42 per share price at closing. Let’s try to find the reason behind this bull.

    What’s Happening?

    Sometimes nothing is good for everything and the same is the situation for AgeX Therapeutics as we find no recent news by the AgeX Therapeutics, not even in whole April, no analysts upgrades, or upswing targeted per share price of AGE stock to justify the rally. Furthermore, no sympathy play or social media hype is supporting this rally. So, what you need to know at this point? Here is the previous activity by the AgeX stock.

    Fourth-quarter and full-year 2020 financial results:

    AgeX stock did release its fourth quarter and year 2020 financial results on March 31, 2020, according to which the fourth-year revenue of the AGE stock was recorded $0.5 million while the total revenue of the full year 2020 was $1.9 million as compared to $1.7 million of 2019. Operating expenses for the last three months of 2020 were totaled $2.9 million while these were $12.4 million, higher than the $10.4 million in 2019.R&D expenses reduced to $5.0 million in 2020 as compared to $5.9 million in 2019. General and Administrative expenses for the AGE stock were decreased to $7.4 million in 2020 from $8.1 million in 2019.

    At the end of 2020, AGE stock had cash, cash equivalents, and restricted cash of $0.6 million as compared to $2.5 at the end of the prior year. Loans from Juvenescence, disposition LifeMap Sciences, Inc, a subsidiary of AgeX, and offering of shares of AgeX common stock resulted in net proceeds of $3.2 million as of January 1, 2021.

    Conclusion:

    Though the AGE stock is hot among investors so far, we don’t find any specific news related to it to justify the bullish sentiment. AgeX recent financial results show that the AGE stock has shown growth over time but still, deep analysis of its balance sheet, fundamentals, and future growth is necessary before adding this stock to the portfolio.