HomeFinancial MarketsWhy Histogen Inc. (HSTO) stock plummeted on Monday?

Why Histogen Inc. (HSTO) stock plummeted on Monday?

Histogen Inc. (HSTO) shares gained 1.69% in after-hours on Monday, December 27, 2021, and closed the daily trading at $0.35. However, in the regular trading session, HSTO’s stock lost 6.77%. HSTO shares have fallen 71.32% over the last 12 months, and they have moved down 11.52% in the past week. Over the past three months, the stock has lost 56.68%, while over the past six months, it has declined 69.54%.

Let’s have a brief look at its recent news.


Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .

Sponsored


>> 7 Top Picks for the Post-Pandemic Economy << 

HSTO closed a private placement of common stock

On December 21, 2021, Histogen Inc. (HSTO), closed its previously announced private placement for the issuance and sale of 8,235,297 shares of common stock and warrants to purchase up to an aggregate of 8,235,297 shares of common stock, at a purchase price of $0.425 per share of common stock and associated warrant.

The company will get gross proceeds of $3.5 million from the offer and will use net proceeds for working capital and general corporate purposes.

HSTO latest financial results

On November 10, 2021, Histogen Inc. (HSTO), released its financial results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

  • HSTO total revenue in Q3 2021 was $591,000 compared to $495,000 in Q3 2020.
  • Research and development expenses were $2.3 million in Q3 2021 compared to $1.5 million in Q3 2020.
  • General and administrative expenses were $2.1 million in Q3 2021 compared to $2.0 million in Q3 2020.
  • It suffered a net loss of $3.86 million in Q3 2021 compared to a $3.3 million loss in Q3 2020.
  • The company ended the third quarter with cash and cash equivalents of $19.2 million.

HSTO data presentation at a recent conference

Histogen Inc. (HSTO), and its partner, Amerimmune, LLC, presented updated findings from the emricasan Phase 1 study in mild symptomatic COVID-19 patients at the American College of Allergy, Asthma, and Immunology Conference in New Orleans which was held on November 6, 2021.

The Phase 1 trial showed excellent safety in early-stage, mildly symptomatic COVID-19 patients in a small cohort of individuals that received orally-dosed emricasan.

>> 7 Top Picks for the Post-Pandemic Economy << 

Conclusion

The recent private placement of common stock could be the reason behind its loss as we have no other recent news. let’s see how it commences trading on Tuesday?

Related Videos

Must Read

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here