Aptinyx Inc. (APTX) shares lost 5.24% in after-hours on Friday, September 17, 2021, and closed at $2.35. In the regular trading session, APTX’s stock gained 1.22%. APTX shares have fallen 27.70% over the last 12 months, and they have moved up 1.64% in the past week. Over the past three months, the stock has lost 20.00%, while over the past six months, it has declined 21.27%.
Let’s have a look at its recent news and developments.
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APTX secured credit facility
On September 16, 2021, Aptinyx Inc. (APTX) entered into a $50 million loan facility and security agreement with K2 HealthVentures (K2HV). The funds will provide general growth capital as Aptinyx advances its late-stage clinical pipeline of novel NMDA modulators.
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APTX participation in the recent investor conference
Aptinyx Inc. (APTX) recently participated at the H.C. Wainwright 23rd Annual Global Investment Conference which was held virtually on September 13-15, 2021.
Earlier the company also participated in the “Brains of the Operation – Novel Approaches in Neuro” panel discussion at the Wedbush PacGrow Healthcare Virtual Conference which was held on Tuesday, August 10, 2021. The company was presented by CEO Norbert Riedel, PhD.
The company was also presented by CEO, Norbert Riedel, Ph.D., at the William Blair Biotech Focus Conference which was held on Thursday, July 15, 2021.
APTX recent financial results announcement
On August 10, 2021, Aptinyx Inc. (APTX) announced its financial results for the second quarter of 2021 which ended on June 30, 2021.
Q2 2021 financial highlights
- APTX earned zero revenue in Q2 2021 compared to collaboration revenue of $490,000 in Q2 2020.
- Research and development expenses were $14.8 million in Q2 2021 compared to $8.4 million for the same period in 2020.
- General and Administrative expenses were 5.1 million in Q2 2021 compared to 4.8 million in Q2 2020.
- It suffered a net loss of $19.9 million for the second quarter of 2021 compared to a net loss of $12.6 million for the second quarter of 2020.
- Net loss per basic and diluted share was $0.29 in Q2 2021 compared to $0.27 in Q2 2020.
- As of June 30, 2021, the company had cash and cash equivalents of $129.2 million compared to $141.0 million on December 31, 2020.
APTX update on NYX-783 Development
On June 15, 2021, Aptinyx Inc. (APTX) finalized the design of its Phase 2b program for NYX-783 in patients with post-traumatic stress disorder (PTSD).
The design was finalized after the recent meeting with the U.S. Food and Drug Administration (FDA). The company expects to initiate the Phase 2b program in the fourth quarter of 2021.
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Conclusion
The recent loan facility may or may not be the reason behind its mixed performance on Friday. We have to wait and see how it performs in the coming trading sessions.