ELAB stock plunges to 52-week low, touches $4.15

Elevai Labs, Inc. (ELAB) stock has faced a tumultuous period, culminating in a new 52-week low as shares tumbled to $4.15. This latest price level reflects a staggering 1-year change, with the stock plummeting by -99.58%. Despite the sharp decline, the company maintains impressive gross profit margins of 71% and has achieved revenue growth of 112% in the last twelve months. InvestingPro analysis reveals the stock is currently in oversold territory. Investors have watched with concern as the company’s shares have steadily declined, erasing nearly all of their value over the past year. The precipitous drop has raised questions about the underlying factors driving the company’s market performance and what steps might be taken to stabilize and restore investor confidence in ELAB’s future prospects. While the company maintains a healthy current ratio of 3.86, InvestingPro analysis suggests the stock is currently undervalued, with 15 additional key insights available to subscribers.

In other recent news, PMGC Holdings Inc. announced a 1-for-7 reverse stock split of its common stock, set to take effect on March 10, 2025. This move is intended to comply with Nasdaq’s minimum bid price requirement and maintain the company’s listing. PMGC Holdings also completed warrant inducement transactions, raising $1.94 million in gross proceeds, with Univest Securities, LLC acting as the financial advisor. Additionally, PMGC Holdings has ended its License Agreement with INmune Bio (NASDAQ:INMB), Inc., which involved the development and commercialization of EMx technology for cosmetic products.

In another development, Northstrive Biosciences Inc., a subsidiary of PMGC Holdings, has scheduled a pre-IND meeting with the FDA for its obesity treatment, EL-22. This marks a significant step in advancing EL-22, which has shown promising results in preclinical studies and a Phase 1 trial in South Korea. The company plans to file an IND application later in 2025 to begin clinical trials. Furthermore, PMGC Holdings recently executed a modest stock repurchase, buying back approximately 70.5 shares, indicating ongoing efforts to manage its capital structure. These recent developments reflect PMGC Holdings’ strategic adjustments and ongoing initiatives in its business operations.

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