Axcella Therapeutics (AXLA)
First Quarter Loss As Expected, Milestones Expected in 2H22
Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.
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Axcella Reported 1Q Financial Results. Axcella reported a loss of $19.0 million or $(0.46) per share for the quarter ended March 31, 2022, hitting our estimated loss of $19.0 million. During the quarter, the company completed a $25 million offering, bringing cash to $63.2 million at the end of the quarter. Based on our FY 2022 quarterly estimates, we expect the company to have sufficient cash through 2023.
We Continue To Expect Interim Data From EMMPACT. Axcella is currently conducting a Phase 2b study testing AXA1125 in non-alcoholic steatohepatitis (NASH). The trial tests two doses against placebo with a target enrollment of 270 patients. Enrollment began in April 2021, with an interim analysis expected in mid-2022. AXA1125 has received Fast Track designation from the FDA in this indication….
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.