• Tue. Dec 1st, 2020

Pharma Oracle

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Stock News Buzz: Magenta Therapeutics, Inc. (NASDAQ: MGTA)

On 02 April 2020, Magenta Therapeutics, Inc. (NASDAQ: MGTA) changed 2.71% to recent value of $6.44. The stock transacted 154695 shares during most recent day however it has an average volume of 146.5K shares. It spotted trading -65.00% off 52-week high price. On the other end, the stock has been noted 11.81% away from the low price over the last 52-weeks.

Magenta Therapeutics (NASDAQ: MGTA) recently stated financial results for the fourth quarter and full year ended December 31, 2019 and recent business highlights.

Financial Results:

Cash Position: Cash, cash equivalents and marketable securities as of December 31, 2019, were $145.7M, contrast to $142.6M on December 31, 2018. Magenta anticipates that its cash, cash equivalents and marketable securities will be sufficient to fund operations and capital expenditures into the fourth quarter of 2021.

Research and Development Expenses: Research and development expenses were $18.7M in the fourth quarter of 2019, contrast to $12.4M in the fourth quarter of 2018. The increase was driven primarily by investments in manufacturing related to our conditioning programs and MGTA-456, increases in personnel to support a clinical-stage company, as well as clinical activities for MGTA-145.

General and Administrative Expenses: General and administrative expenses were $5.9M for the fourth quarter of 2019, contrast to $5.5M for the fourth quarter of 2018. The increase was primarily Because of a raise in personnel and facilities associated with the growth of the Company.

Net Loss: Net loss was $23.2M for the fourth quarter of 2019, contrast to net loss of $16.7M for the fourth quarter of 2018.

 The company has 42.59M of outstanding shares and 32.9M shares were floated in the market. According to the most recent quarter its current ratio was 10.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of -19.57% from the mean of 20 days, -39.94% from mean of 50 days SMA and performed -45.53% from mean of 200 days price. Company’s performance for the week was -13.32%, -46.56% for month and YTD performance remained -57.52%.

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