Home Trending Stocks ObsEva SA (OBSV) stock gains in the Pre-Market today: What’s Going On?

ObsEva SA (OBSV) stock gains in the Pre-Market today: What’s Going On?

Shares of the ObsEva SA (OBSV) stock were gaining in the pre-market trading session today on May 17, 2021, after rising as much as 3.80% at the previous closing. OBSV stock price saw a push of 6.96% to reach $2.92 a share at the time of this writing. Apparently, there seems to be no news backing the rising OBSV stock price. Let’s deep dive to explore more of it.

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What’s Happening?

ObsEva SA (OBSV) is engaged in the development and commercializing of products to treat pregnant women and diseases related to reproductive health. There is no OBSV stock-related news in today’s date nor even in the previous week. No recent analysts’ upgrades have been in the news to justify the bullish sentiment. It seems that momentum was already built for OBSV stock and still going on the way. So, it is better to discuss some recent events by the OBSV stock.

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First Quarter Financial Results 2021:

On May 06, 2021, ObsEva stock announced its first-quarter financial results 2021, the highlights of which are as follow.

  • Net loss of $20.0 million or $0.29 per share was reported for OBSV stock in the first quarter of 2021 as compared to a net loss of $21.9 million or $0.48 per share in the same period of the prior year. The non-cash expense of $2.0 million stock-based compensation was also included in the net loss.
  • OBSV stock spent $15.5 million and $4.2 million in R&D expenses and G&D expenses respectively while these were $17.2 million and $3.7 million respectively in the same tenure of prior year.
  • OBSV stock had cash and cash equivalents of $68.0 million as of March 31, 2020, while these were $31.2 million at the end of December 2020.

EDELWEISS 3 trial of Yselty:

Two days before the announcement of financial results, On May 04, 2021, OBSV stock did an announcement of completion of its enrollment for Phase 3 EDELWEISS 3 trial of Yeslty designed for the patients suffering from moderate as well as severe endometriosis-associated pain (EAP).Roughly176 million women in the globe were suffering from this emotional and physically painful condition.

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Conclusion:

So far so good for OBSV stock as far as market sentiment is concerned though there is no certain news attributed to this rise. The cash balance for OBSV stock was significantly improved according to the recent earnings report. In a nutshell, investors need to keep an eye on this stock.

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