Why Vincerx Pharma Inc. (VINC) stock popup on Thursday?

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AFRM Stock
AFRM Stock

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.


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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.

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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.

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Conclusion

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.

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