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  • Shares of CohBar Inc. (CWBR) Plunge Further in the After Hours

    Shares of CohBar Inc. (CWBR) Plunge Further in the After Hours

    On January 13, shares of the mitochondria-based therapeutics developer, CohBar Inc. (CWBR) plunged further in the after market.

    In the regular session, CWBR stock traded between a high of $0.3989 and a low of $0.3660 at 768.08K shares. The stock closed the session at $0.3700, suffering a loss of 5.13%. CWBR stock lost a further 9.19% in the after hours to reach $0.3360 at 51.85K shares.

    More About CWBR

    CohBar Inc. is a clinical-stage biotechnology company with a market capitalization of $33.56 million. Currently, the company has 86.06 million shares outstanding in the market.

    In the past five days, the stock has wet down by 8.96% while it has gained 5.74% year-to-date. Furthermore, the stock has lost a value of 74.13% last year.

    Moreover, there seems to be no official reason for the current continued downtrend of the stock as no news has come to light recently.

    Recent Developments

    Recently, the company announced its participation in the H.C. Wainwright BioConnect Conference which started on January 10, 2022. The company’s CEO, Dr. Joseph Sarret is set to present an overview of CWBR at the virtual conference. Further, the conference will end on Friday, January 14, 2022.

    Previously, the company had also made some changes to its Board of Directors, Scientific Advisory Board (SAB) and R&D leadership. The changes announced on December 17, included:

    The transition of the company’s founders Drs. Nir Barzilai, Pinchas Cohen and John Amatruda from its board to a reconstituted SAB. The SAB will be responsible for advancing the company’s pipeline along with its Mito+ platform.

    Resignation of Ken Cundy, Ph. D. as the company’s Chief Scientific Officer, effective March 31, 2022. Mr. Cundy resigned from the company for the exploration of other opportunities.

    Appointment of Kent Grindstaff, Ph. D. as the company’s Senior Vice President of Research, effective January 4, 2022. Earlier, Mr.Grindstaff had served as the company’s Vice President of Biology for six years, hence knows the its science programs very well. Moreover, he has rejoined the company from BioAge Labs.

    CWBR’s Financials

    On November 15, the company declared its financial results for the third quarter of 2021.

    In the third quarter of 2021, the company suffered from a net loss of $3.4 million or $0.05 per basic and diluted share. Comparatively, the net loss in the year-ago quarter was $3.2 million or $0.06 per basic and diluted share.

  • CohBar Inc (CWBR) Stock Declines, Here’s What You Need To Know

    Tthe shares of CohBar Inc (CWBR) was down 35.12% in premarket trading and is down -$0.32 from its previous closing price of $0.90. CWBR stock has lost 34.83 percent in the last year. Over the last year, CWBR has lost -$0.29 per share.

    On November 15, 2021, CohBar Inc will release its financial results for the third quarter of 2021 and provide an update on its business. After the market closes on Monday, November 15, 2021, the firm will reveal its third quarter financial results. On the same day, management will have a conference call to offer an update on the company’s operations at 5:00 p.m. ET (2:00 p.m. PT).

    From 8:00 p.m. Eastern Time on November 15, 2021, through 11:59 p.m. Eastern Time on December 6, 2021, an audio recording of the conference call will be accessible.

    Second Quarter 2021 Results

    CohBar has $13.8 million in cash and investments as of June 30, 2021, compared to $21 million as of December 31, 2020. For the quarter ended June 30, 2021, the cash burn was around $4.6 million. For the three months ended June 30, 2021, research and development costs were $2.6 million, up from $1.5 million in the prior year quarter. The increase in R&D expenses was primarily due to investments in the company’s research programs focused on the continued development of its peptides, as well as an increase in clinical trial costs due to the timing of those expenses, which was partially offset by a decrease in stock-based compensation costs.

    For the three months ending June 30, 2021, general and administrative expenses were $2.6 million, up from $1.4 million the year before. Higher salary and stock-based compensation costs, as well as rising D&O insurance premiums, drove up general and administrative expenses.

    Net loss was $5.2 million, or $0.08 per basic and diluted share, for the three months ended June 30, 2021, which includes $1.0 million in non-cash expenses. Net loss was $4.1 million, or $0.09 per basic and diluted share, for the three months ended June 30, 2020, which includes $1.8 million in non-cash expenses.

    Despite the fact that CohBar, Inc. (CWBR) has lost US$647k in value, insiders who invested last year have realized gains of roughly US$8.6k thus far.

    CohBar, Inc. (CWBR) shareholders who bought the company less than a year ago are unlikely to notice the firm’s recent 25% decrease. After taking into account the recent loss, the shares they purchased for US$119k are now worth US$127k, indicating a good return on their investment.

    Insiders at CohBar have been buying rather than selling shares during the last year. The average purchase price was approximately US$0.63. These transactions demonstrate that insiders are confident enough in the company to put their own money in it, albeit at a significantly lower price than it has been recently.