Why did Tyme Technologies Inc. (TYME) stock turnaround in the after-hours on Thursday?

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AFRM Stock
AFRM Stock

Tyme Technologies Inc. (TYME) shares soared 2.74% in after-hours on Thursday, December 29, 2021, and closed the daily trading at $0.63. However, in the regular trading session, TYME’s stock lost 8.29%. TYME shares have fallen 46.68% over the last 12 months, and they have moved down 9.82% in the past week. Over the past three months, the stock has lost 40.47%, while over the past six months, it has declined 50.15%.

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


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Additional Preclinical Data of TYME-19

On December 14, 2021, TYME Technologies, Inc. reported encouraging preclinical data on the effect of TYME-19 in SARS CoV-2 infections.

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According to the company, TYME-19, a synthetic bile acid, may have differentiated mechanisms that could offer alternatives for COVID-19 infected patients who may not be served by current and emerging oral agents.

The company believes that the TYME-19-based mechanisms of action may be independent of genetic shifts in the spike protein and, therefore, could have utility against a variety of current and future variants of SARS CoV-2, regardless of their spike protein characteristics, because Bile acids can act to help overcome the viral hijacking of cells’ translational machinery and the production and replication of virus proteins and particles.

TYME poster presentation at the upcoming event

TYME Technologies, Inc. will participate in the 2022 American Society of Clinical Oncology (ASCO) Gastrointestinal Cancers Symposium, which is to be held on January 20 – 22, 2022, in San Francisco, CA. The company will do a poster presentation about Oral SM-88 plus MPS, an effective yet less toxic treatment option in second-line advanced pancreatic cancer, Final phase II/III study results.

TYME latest financial results

On November 08, 2021, TYME Technologies, Inc. announced financial and operating results for its second fiscal quarter ended September 30, 2021.

Q2 2022 financial highlights

  • There was no revenue generated in Q2 2022.
  • Total operating expenses were $5.93 million in Q2 2022 compared to $7.3 million in Q2 2021.
  • It suffered a net loss of $5.6 million in Q2 2022 or $0.03 per basic and diluted share in Q2 2022, compared to a net loss of $6.9 million or $0.05 per basic and diluted share in Q2 2021.
  • As of September 30, 2021, the company had approximately $96.6 million in cash and marketable securities, compared to $101.5 million as of the quarter ended June 30, 2021.

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Conclusion

We were unable to find any reason behind its early loss and later gains on Thursday. We hope that it will continue its positive momentum on Friday as well.

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