Beamr video compression achieves up to 50% improvement for AVs
In a challenging market environment, OncoGenex Pharmaceuticals Inc. (NASDAQ: NASDAQ:ACHV) stock has reached a 52-week low, trading at $2.5, with a market capitalization of $87.23 million. InvestingPro analysis reveals the stock’s beta of 1.68, indicating higher volatility than the broader market. The biopharmaceutical company, which focuses on developing cancer therapies, has seen its shares tumble significantly over the past year. Investors have witnessed a stark 1-year change in the stock’s performance, with a decline of -43.75%, reflecting the hurdles the company faces in a competitive and fast-evolving sector. Despite challenges, the company maintains a strong current ratio of 5.46, indicating solid short-term liquidity. The current price level marks a critical juncture for ACHV as it navigates through clinical trials and seeks to secure a stronger foothold in the oncology market. Analyst price targets range from $10 to $30, suggesting potential upside. Discover more insights and 10 additional key ProTips with InvestingPro’s comprehensive research report.
In other recent news, Achieve Life Sciences reported fourth-quarter earnings that did not meet analyst expectations, with a quarterly loss of $0.36 per share, which was $0.02 worse than the anticipated $0.34 loss. The company also reported total operating expenses of $12.2 million and a net loss of $12.4 million for the quarter. Achieve Life Sciences concluded 2024 with $34.4 million in cash, cash equivalents, and marketable securities. Despite the earnings miss, the company remains on track to submit a new drug application for cytisinicline to the U.S. Food and Drug Administration by the end of the second quarter of 2025. The company has completed enrollment in its ORCA-OL long-term exposure trial, meeting the necessary requirement of 300 participants for the NDA submission. Achieve Life Sciences also announced positive results from two data safety monitoring committee reviews of the ORCA-OL trial, with no safety concerns identified. Additionally, the company has strengthened its leadership team with the appointment of two new board members and a new Chief Financial Officer to support its strategic initiatives.
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