Vincerx Pharma Inc. (VINC) shares gained 6.65% in after-hours on Thursday, September 16, 2021, and closed the daily trading at $17.00. Earlier in the regular trading session, VINC’s stock gained 0.76%. VINC shares have risen 58.13% over the last 12 months, and they have moved down 8.34% in the past week. Over the past three months, the stock has gained 30.02%, while over the past six months, it has declined 35.28%.
Let’s discuss its recent news.
VINC private placement
On September 16, 2021, Vincerx Pharma, Inc. (VINC) entered into a definitive agreement to sell an aggregate of 3.5 million shares of common stock at a purchase price of $14.50 per share. The private placement consists of Deerfield Management Company, Rock Springs Capital, Point72 Asset Management, and Sphera Healthcare, among others.
VINC participation in the recent investor conference
Vincerx Pharma, Inc. (VINC) recently participated at the 2021 Wells Fargo Virtual Healthcare Conference, which was held on September 9-10, 2021.
VINC recent financial results announcement
On August 12, 2021, Vincerx Pharma, Inc. (VINC) reported its financial results for the second quarter ended June 30, 2021.
Q2 2021 financial highlights
- Research and development (R&D) expenses were $10.7 million in Q2 2021 compared to zero in Q2 2020.
- General and administrative expenses were $6.7 million in Q2 2021compared to only $33,000 in Q2 2020.
- It suffered a net loss of $2.0 million, or $0.12 per share, basic and diluted in Q2 2021.
- As of June 30, 2021, the company had $85.6 million in cash and cash equivalents, which includes the proceeds from the recent public warrant redemption, compared to $61.8 million on December 31, 2020.
VINC on Russell 3000 and Microcap Indexes
June 28, 2021, Vincerx Pharma, Inc. (VINC) joined the broad-market Russell 3000 and Microcap® Indexes as part of the 2021 Russell indexes annual reconstitution.
VINC VIP152 Clinical Data
On June 04, 2021, Vincerx Pharma, Inc presented safety and efficacy data from the Phase 1 study of VIP152, the Company’s PTEFb/CDK9 inhibitor, in patients with double-hit lymphoma at the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting which was held virtually from June 4-8, 2021.
The private stock placement was the reason behind its gains on Thursday and it can close the week by surging more on Friday as well.