HomeFinancial MarketsWhy did Caladrius Biosciences Inc. (CLBS) stock perform well on Tuesday?

Why did Caladrius Biosciences Inc. (CLBS) stock perform well on Tuesday?

Caladrius Biosciences Inc. (CLBS) shares soared 11.65% in after-hours on Tuesday, January 04, 2021, and closed at $1.15. Even in the regular trading session, CLBS’s stock gained 15.86%. CLBS shares have fallen 34.81% over the last 12 months, and they have moved up 22.60% in the past week. Over the past three months, the stock has lost 10.43%, while over the past six months, it has declined 30.41%.

Let’s briefly discuss its recent news and developments.


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CLBS participation in the upcoming conferences

Caladrius Biosciences, Inc. will participate virtually in H.C. Wainwright BioConnect Conference to be held on January 10-13, 2022.

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CLBS will also participate in Biotech Showcase which is scheduled for January 10–12, 2022, and January 17–19, 2022.

At both events, President and CEO, David J. Mazzo, Ph.D., will present the company.

CLBS latest financial results

On November 04, 2021, Caladrius Biosciences, Inc. (CLBS) announced financial results for the three and nine months ended September 30, 2021.

Q3 2021 financial highlights

  • CLBS reported no revenue for the third quarter of 2021.
  • In Q3 2021, Research and development expenses were approximately $4.1 million compared to $3.0 million for the three months ended September 30, 2020.
  • General and administrative expenses were approximately $2.8 million for Q3 2021, compared to $2.3 million for Q3 2020.
  • It suffered a net loss of $6.9 million in Q3 2021 compared to a net loss of $5.3 million in Q3 2020.
  • The company ended the third quarter with cash, cash equivalents, and marketable securities of approximately $100.1 million.

CLBS new appointment

On September 01, 2021, Caladrius Biosciences, Inc. (CLBS) announced the appointment of Dr. Kristen K. Buck as the Company’s Chief Medical Officer (CMO).

Dr. Buck has extensive drug development experience in multiple therapeutic indications including cardiovascular/metabolic, rare diseases, gastrointestinal, neuroscience, oncology, immunology, and women’s health. She recently worked at ICON as its CMO.

Conclusion

Well, there is no significant news or development available to justify its exceptional positive performance on Tuesday. We are not sure how it will commence trading on Wednesday.

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About the company

Caladrius Biosciences, Inc. is a clinical-stage biopharmaceutical company dedicated to the development of cellular therapies designed to reverse disease. The Company’s current product candidates include CLBS16, for the treatment of coronary microvascular dysfunction, CLBS12 (HONEDRA® in Japan), and Buerger’s Disease in the U.S.

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