Fubotv earnings beat by $0.10, revenue topped estimates
OncoGenex Pharmaceuticals Inc. (NASDAQ:ACHV) stock has faced significant headwinds, culminating in a 52-week low of $2.83 USD. According to InvestingPro data, the stock’s high volatility is reflected in its beta of 1.68, indicating sharper price swings than the broader market. The biopharmaceutical company, which focuses on developing cancer therapies, has seen its shares tumble over the past year, reflecting a broader trend of volatility in the healthcare sector. Investors have been cautious, as evidenced by the stock’s 1-year decline of -35.52%. This downturn has raised concerns about the company’s near-term prospects, with InvestingPro analysis revealing that four analysts have recently revised their earnings expectations downward. Despite these challenges, the company maintains a strong liquidity position with a current ratio of 6.78, as it continues to advance its clinical programs and seek strategic partnerships. For comprehensive analysis including 12 additional ProTips and detailed financial metrics, investors can access the full Pro Research Report on InvestingPro.
In other recent news, Achieve Life Sciences, Inc. announced that its ORCA-OL clinical trial has reached a critical milestone, with over 300 participants completing six months of treatment with cytisinicline. This achievement meets the U.S. Food and Drug Administration’s (FDA) requirement for long-term exposure data, which is essential for the planned New Drug Application (NDA) submission in the second quarter of 2025. The Data Safety Monitoring Committee (DSMC) has found no safety concerns, allowing the trial to proceed without changes. Additionally, Achieve Life Sciences has undergone significant board changes, with Dr. Vaughn Himes stepping down and Nancy R. Phelan and Kristen B. Slaoui joining as new directors. The company also appointed Mark K. Oki as its new Chief Financial Officer, who brings extensive experience from his previous roles in the pharmaceutical sector. Meanwhile, Oppenheimer has reiterated its Outperform rating for Achieve Life Sciences following a positive FDA meeting outcome, supporting the potential of cytisinicline for vaping cessation. The FDA’s acceptance of a single Phase 3 study for a Supplemental New Drug Application (sNDA) submission is a notable development. Achieve Life Sciences continues its efforts to address nicotine dependence, with plans to submit an NDA for smoking cessation in 2025.
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