Home Top Movers Why Applied Genetic Technologies Corp (AGTC) stock lost its positive moment in...

Why Applied Genetic Technologies Corp (AGTC) stock lost its positive moment in the after-hours on Monday?

Applied Genetic Technologies Corp (AGTC) stock started the new week with positivity and gained 2.12% on Monday, April 26, 2021, but it could not continue its momentum and lost 5.31% in the after-hours session and closed at $4.10 per share.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

AGTC shares have risen by 11.31% over the last 12 months, and they have moved up by 13.95% in the past week. Over the past three months, the stock has lost -11.27%, while over the past six months, it has shed -19.67%.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Let’s see if there are any recent developments?

Read More

Chief scientific officer resignation

On April 26, 2021, Mark Shearman, Ph.D. chief scientific officer of Applied Genetic Technologies Corporation resigned from his post but will continue to facilitate a smooth transition through June 4, 2021.

The license agreement with SparingVision SAS

On April 19, 2021, Applied Genetic Technologies Corporation signed a license agreement with SparingVision SAS which will provide its proprietary PR1.7 cone-specific promoter technology to be used in the development of two non-competing SparingVision SAS products.

AGTC’s proprietary PR1.7 allows enhanced targeting of gene therapies for indications in which the gene defect is a cone-specific and limiting expression of the gene in other cells that could be undesirable.

The license agreement withTeamedOn International

On April 13, 2021, Applied Genetic Technologies Corporation signed a license agreement with TeamedOn International to provide its clinical trial material, pre-clinical and clinical data of its therapy candidate, rAAV2tYF-CB-hRS1 to advance gene therapy to treat X-linked retinoschisis (XLRS).

XLRS an inherited disease that causes loss of vision due to degeneration of the retina in males. TeamedOn will reinitiate the clinical development of the program.

Participation in the investor conferences

Applied Genetic Technologies recently participated virtually in the following investor conferences.

  • Alliance for Regenerative Medicine Cell & Gene Meeting held on April 6-9, 2021.

Ms. Washer and Mark Shearman, Ph.D., Chief Scientific Officer provided updates about the company.

  • Wells Fargo Biotech Corporate Access Day which held on April 6, 2021.

Sue Washer, President & Chief Executive Officer, and Bill Sullivan, Chief Financial Officer presented the company.

  • Gene Therapy Patient Engagement Summit, which held on March 24, 2021.
  • 33rd Annual ROTH Conference held on March 15-17, 2021.

Ms. Washer and Mark Shearman, Chief Scientific Officer presented the company

Financial results

On February 11, 2021, Applied Genetic Technologies Corporation announced financial results for the quarter ended December 31, 2020.

  • AGTC earned zero revenue for the quarter ended December 31, 2020, compared to $2.5 million in the same quarter in 2019.
  • It spent $11.8 million in research and development expenses in the reported quarter compared to $8.4 million in the prior-year quarter.
  • General and administrative expenses for the three months ended December 31, 2020, were $3.3 million compared to $3.0 million in the same quarter in 2019.
  • AGTC suffered a net loss of $15.5 million for the reported quarter compared to $8.6 million in the same quarter in 2019.
  • The Company’s cash, cash equivalents and investments totalled $53.1 million, as of December 31, 2020.

    Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Conclusion

Well, the only recent news is the resignation of the chief scientific officer which could e the reason behind losing its positive tempo in the after-hours on Monday.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Havertys Furniture Companies Inc. (HVT) stock gains during after-hour trading, Here’s to know why?

Havertys Furniture Companies Inc. (NASDAQ: HVT) stock declined by 0.39% at last close whereas the HVT stock price gains by 4.6% in the after-hours...

Oragenics Inc. (OGEN) stock gained during current market. What’s driving it high?

Oragenics Inc. (OGEN) stock gains by 54.33% during the current market trading session. Oragenics, is a research and development firm focused on combating infectious...

Flora Growth Corp. (FLGC) stock declines during premarket. Here’s what you should know?

Flora Growth Corp. (NASDAQ: FLGC) stock gained by 49.67% at last close whereas the FLGC stock price plunged by 18.36% in the pre-market trading...

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

Smith Micro Develops Inc. (SMSI) stock soars during current market trading. Here’s to know why?

Smith Micro Develops Inc. (NASDAQ: SMSI) stock surged by 2.39% during the current market trading session. Smith Micro creates software that simplifies and improves...

Relmada Therapeutics Inc. (RLMD) stock is plunging in the current trading session; What’s going on?

In the current trading session, Relmada Therapeutics Inc. (RLMD) stock shares are plunging by -5.97%. The current trading price is at $23.62 in the...

Oragenics Inc. (OGEN) stock gained during current market. What’s driving it high?

Oragenics Inc. (OGEN) stock gains by 54.33% during the current market trading session. Oragenics, is a research and development firm focused on combating infectious...

Tonix Pharmaceutics Holdings Inc. (TNXP) stock gains during current market. What’s driving it high?

Tonix Pharmaceuticals Holdings Inc. (TNXP) stock gains by 2.81% in the current market trading session. Tonix is a clinical-stage biopharmaceutical business dedicated on finding,...

Related News

Intec Pharma Inc. (NTEC) stock declines during current market after a massive upraise. What’s happening?

Intec Pharma Inc. (NASDAQ: NTEC) stock drops by 7.88% during the current market trading session. Intec Pharma is a clinical-stage biopharmaceutical firm specializing in...

F5 Networks Inc. (FFIV) stock soars during pre-market trading. Here’s to know why?

F5 Networks Inc. (FFIV) stock gained by 0.23% at the last close while the FFIV stock surged by 6.05% in the pre-market trading session....

Here is why Cerecor Inc. (CERC) stock turnaround in the after-hours on Monday?

Cerecor Inc. (CERC) shares gained 12.23% in after-hours on Monday, July 26, 2021, and closed the trading at $3.12. in the regular trading session,...

Here is why Bit Digital Inc. (BTBT) stock skyrocketed on Monday?

Bit Digital Inc. (BTBT) shares declined 10.94% in after-hours on Monday, July 26, 2021, and closed the day at $7.90. Earlier in the regular...

Why did Protagenic Therapeutics Inc. (PTIX) stock commence the new week with a negative trend?

Protagenic Therapeutics Inc. (PTIX) shares declined 13.82% in the pre-market on Monday, July 26, 2021, as of this writing. In after-hours on Friday, Protagenic...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam