Why Trinity Biotech plc (TRIB) Stock rallied in the after-hours on Friday?


Trinity Biotech plc (TRIB) shares jumped 8.40% in after-hours on Friday, January 07, 2021, and closed the daily trading at $1.42. However, in the regular trading session, TRIB’s stock lost 5.07% to close. The stock volume remained 0.12 million shares. TRIB shares have fallen 67.17% over the last 12 months, and they have moved down 8.39% in the past week. Over the past three months, the stock has lost 41.52%, while over the past six months, it has slid down 44.26%. The company has a current market of $28.79 million and its outstanding shares stood at 20.90 million.

Let’s have a look at its recent news.

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TRIB latest financial news

On December 15, 2021, Trinity Biotech plc (TRIB) announced results for the quarter that ended September 30, 2021.

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Q3 2021 financial highlights

  • TRIB reported total revenue of $22.0 million in Q3 2021 compared to $32.0 million in Q3 2020.
  • The total cost of revenue was $13.1 million in Q3 2021 compared to $15.3 million in Q3 2020.
  • In Q3 2021, the gross profit was $8.9 million compared to $16.7 million in Q3 2020.
  • Selling, general and administrative expenses were $5.88 million compared to $6.3 million in Q3 2020.
  • It earned a net income of $1.32 million in Q3 2021 compared to $7.3 million net income in the comparable period of 2020.
  • The company ended the third quarter with cash and cash equivalents of $27.5 million.

TRIB term loan facility

Trinity Biotech plc (TRIB) and its subsidiaries entered into $81,250,000 senior secured term loan credit facility with Perceptive Advisors, an investment manager with expertise in healthcare. Proceeds from the Term Loan, along with existing cash and the issuance of new American Depositary Shares in the Company, will be used to retire the Notes.

TRIB exchange agreement

The Company also entered into exchange agreements with five institutional investors that hold approximately $99,700,000 of the outstanding Notes, which are puttable by the holders to the Company, at par, in April 2022.

Under the terms of this agreement, each holder will receive $0.87 of cash and the equivalent of $0.08 of the Company’s ADS.

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We have no recent news even any news for January 2022 so we are not sure why its stock went up in the after-hours trading on Friday. Let’s see how it performs on Monday?


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