Why Gamida Cell Ltd’s (GMDA) stock is plummeting in the pre-market on Wednesday?

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GILD Stock
GILD Stock

Gamida Cell Ltd. (GMDA) shares have declined 10.92% in the pre-market session on Wednesday, December 29, 2021, and are trading at $2.53 per share, as of this writing. However, yesterday, in the after-hours session it gained 9.65% and closed the daily trading at $2.84 per share. GMDA shares have fallen 67.62% over the last 12 months, and they have moved up 7.98% in the past week. Over the past three months, the stock has lost 27.92%, while over the past six months, it has plunged 56.90%.

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


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GMDA data presentation at ASH

Gamida Cell Ltd. (GMDA) presented two-year follow-up data for GDA-201, at the 63rd American Society of Hematology (ASH) Annual Meeting, which was held in Atlanta, Georgia on December 11-14, 2021. GDA-201 is the company’s lead candidate in its NAM-enabled NK cell therapy pipeline.

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The company also did a poster presentation of an analysis of resource utilization data from the first 100 days after bone marrow transplant for patients who participated in the phase 3 trial of omidubicel.

On this occasion, Paul Szabolcs, M.D., Division of Blood and Marrow Transplantation and Cellular Therapy, UPMC Children’s Hospital of Pittsburgh said that these results demonstrating rapid and functional reconstitution of the immune cells – particularly the T cell recovery which is known to lag in cord blood transplants – provides mechanistic support for the lower rates of severe infection observed in the omidubicel-treated patients.

GMDA participation in the recent event

Gamida Cell Ltd. recently participated in the JMP Securities Hematology and Oncology Summit, which was held on December 6, 2021.

GMDA also participated in the Evercore ISI 4th Annual HealthCONx Conference, held on November 30, 2021

The company was also present at Piper Sandler 33rd Annual Virtual Healthcare Conference, which was held on December 2, 2021.

GMDA latest financial result

On November 15, 2021, Gamida Cell Ltd. (GMDA), announced its financial results for the quarter ended September 30, 2021.

Q3 2021 financial highlights

  • GMDA reported zero revenue in Q3 2021.
  • Research and development expenses in the third quarter of 2021 were $12.4 million, compared to $10.5 million for the same period in 2020.
  • It suffered a net loss of $19.6 million in the third quarter of 2021, compared to a net loss of $14.8 million for the same period in 2020.
  • The company had total cash and cash equivalents of $120.8 million at the end of the third quarter.

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Conclusion

Well, there is no recent news that could be linked with its poor pre-market performance on Wednesday. let’s see how it performs in the coming trading sessions?

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