Here is why CohBar Inc. (CWBR) stock plummeted on Wednesday?

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CohBar Inc. (CWBR) shares plummeted 24.44% in after-hours on Wednesday, October 27, 2021, and closed the daily trading at $0.68. Even in the regular trading session, CWBR’s stock lost 1.10%. CWBR shares have fallen 2.43% over the last 12 months, and they have moved down 3.23% in the past week. Over the past three months, the stock has lost 20.35%, while over the past six months, it has declined 32.33%.

Let’s see why did it face negativity on Wednesday?


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CWBR proposed a public offering of common stock

On October 27, 2021, CohBar, Inc (CWBR) announced a proposed underwritten public offering of shares of the Company’s common stock and accompanying warrants to purchase common stock. All of the securities to be sold in the offering are being offered by the Company. There is no further detail given by the company.

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CWBR CB4211 Phase 1a/1b results

On October 13, 2021, CohBar Inc (CWBR) released data from its CB4211 Phase 1a/1b clinical study which have been selected for presentation during the late-breaking poster session at The American Association for the Study of Liver Diseases (AASLD) Annual Meeting (The Liver Meeting 2021). This event will be held virtually from November 12 – 15, 2021.

Dr. Rohit Loomba, MD, MHSc, Professor of Medicine, Director, NAFLD Research Center, and Director of Hepatology, University of California at San Diego, will do the poster presentation.

CWBR new appointment

On September 15, 2021, CohBar, Inc. (CWBR) appointed Joanne Yun, PhD as an independent director on the company’s Board. Dr Yun brings extensive research and development, commercial, and governance experience from the pharmaceutical industry.

U.S Patent granted to CB4211

On September 08, 2021, the United States Patent and Trademark Office granted a patent, U.S. No. 11,111,271, covering CohBar’s (CWBR) lead candidate CB4211 and related compositions, as well as methods of treatment, including methods of treating nonalcoholic steatohepatitis (NASH).

CWBR participation in the recent investor conferences

  • CohBar, Inc recently participated at Cantor Fitzgerald Virtual Global Healthcare Conference, which was held on September 30, 2021.
  • CWBR also participated at the H.C. Wainwright Annual Global Investment Conference which was held on September 13 – 15, 2021.

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Conclusion

The proposed public offering of common stock was the reason behind its loss on Wednesday. we can expect it to further decline in the coming trading sessions as well.

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